BANKING

Banks are financial institutions that accept deposits and make loans.

A checking account is a bank account that allows you to save money for future goals and usually earns interest.

Banks provide the following (select all that applies)

The FDIC can also borrow up to $100 billion from the Treasury for insurance purposes.

The Federal Deposit Insurance Corporation (FDIC) insures deposits in banks and savings associations.

What year was The FDIC created by Congress to restore public confidence in the banking system?

A checking account is a bank account that allows you to deposit and withdraw money for everyday expenses. 

In exchange for opening a savings account and letting the bank use your money you usually earn what?

The process where a Bank pools deposits from people who have money and lends to people who need money is called?

The basic insurance coverage amount the FDIC covers for deposit accounts is?