F.D.I.C (Federal Deposit Insurance Corporation)
Defined:A protection placed on bank account guaranteed the return of deposit up to $250,000 in the event of a bank failure.
Essential Question:1.0: Write a factual statement (not definition) concerning FDIC.
2.0: In your own word (not the teacher's), define
3.0: What is a safe practice for wealthy people with millions of dollars in cash?
4.0: Research FDIC. What happens when a bank fails. What steps does the bank go through to get the insured money to the customers. What does the FDIC not cover in a bank failure.
"Must have" Notes:If you had $260,000 in your account and your bank account has a failure you won't get that extra $10,000 back, just the $250,000 that you are insured.
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