A commercial bank is a financial institution that offers a broad range of financial services such as business loans, consumer loans, checking and savings accounts, and credit cards. Most deposits at these banks are insured by the Federal Deposit Insurance Corporation (FDIC).
The Federal Deposit Insurance Corporation (FDIC) is a U.S. government agency that provides deposit insurance to depositors in American commercial banks and savings institutions, ensuring the stability and public confidence in the nation's financial system.
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.
A Federally Related Mortgage is a mortgage loan that is governed by federal laws and regulations due to involvement by federal agencies, ensuring compliance and protection for both lenders and borrowers.
