Federal insurance that protects depositors' money at FDIC-member banks up to a set limit per depositor, per bank.
The Federal Deposit Insurance Corporation insures deposit accounts (checking, savings, CDs) up to $250,000 per depositor, per insured bank, per ownership category, in the event the bank fails. It does not cover investment losses in stocks, bonds, or mutual funds, even if purchased through a bank.
Not to be confused with: SIPC insurance, which covers brokerage accounts against firm failure, not investment losses.
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