Explain why it's so important to take advantage of the FDIC insurance offered by (almost all) banks.

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Computers and Technology

Caleb Long

11 February, 13:21

Explain why it's so important to take advantage of the FDIC insurance offered by (almost all) banks.

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Hugo Lambert · Answer 1

The FDIC is meant to ensure public confidence in the U. S. financial system. While it may seem like insuring your funds is a purely personal benefit, the FDIC also mitigates potential negative effects on the economy and financial system when a bank fails.