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The FDIC checks and investigates all the banks registered under it to ensure fair transactions, prevention of fraudulent activities and security of the customers of the country.
FDIC stands for Federal Deposit Insurance Corporation. It is an independent supervising agency that keeps a check on all the transactions of the financial organizations of the country. The FDIC compliance includes the basic rules and etiquettes for the transactions and responsibilities of the authorities.
Bank is a financial institution that provides the exchange of money, loans, security of valuable goods to the citizens of its country. It allow people to store money in the bank in return of interest on the amount.
To know more about banks, here
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