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So, first things first, what exactly *is* the FDIC? The FDIC is an independent agency of the U.S. government. Think of it as a safety net for your bank deposits. Its primary mission is to maintain stability and public confidence in the nation's financial system by insuring deposits in banks and savings associations. The FDIC was created in 1933 in response to the massive bank failures during the Great Depression. Before the FDIC, if a bank went bust, you could kiss your savings goodbye. No bueno, right?
