The Asset Conservation, Lender Liability, and Deposit Insurance Protection Act of 1996 (ALDA) is a federal statute aimed at providing certain protections to lenders from liability for the environmental cleanup of properties serving as collateral, alongside mechanisms for asset conservation and deposit insurance in the banking sector.
A public corporation established in 1933; insures up to $250,000 for each depositor in each commercial bank and savings and loan association. It has its own reserves and can borrow from the U.S. Treasury.
