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The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. [7]: 15 The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system.
A money market account, or MMA, is a type of bank account that combines many of the features of checking and savings accounts. Like a savings account, money market accounts pay interest on the ...
So, if a couple had $500,000 in a joint savings account, their money would be insured by the FDIC. A savings account with a single owner with $500,000 would only be half insured. Trusts also ...
Sign in. Mail. 24/7 Help. For premium support please call: ... Are Money Market Accounts FDIC Insured? The FDIC insures money market accounts up to $250,000. However, the insurance applies to all ...
A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets. [1] The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.
The Federal Deposit Insurance Act of 1950, Pub. L. 81–797, 64 Stat. 873, enacted September 21, 1950 by the 81st United States Congress and signed into law by Harry S. Truman is a statute that governs the Federal Deposit Insurance Corporation (FDIC). The FDIC was originally created by the Banking Act of 1933, which amended the Federal Reserve ...
Money market accounts share the same FDIC protections as savings accounts and CDs. ... Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Mail.
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