The Federal Deposit Insurance Corporation (FDIC) was established in 1933 to insure bank deposits of at least $250,000. The FDIC identifies risks in the financial system and protects against losses from bank failures. It insures over $9 trillion in deposits across thousands of banks. The FDIC is funded through interest on its investments and premiums from participating banks, not taxes.

1. BASICS OF THE
FEDERAL DEPOSIT
INSURANCE
CORPORATION
By Global Client Solutions

2. Introduction
 Established more than 10 years ago in Tulsa,
Oklahoma, Global Client Solutions provides third-party
transaction processing services that enable
consumers to make payments to debt settlement
companies through dedicated accounts. To ensure
safety and industry best practices, Global Client
Solutions’ accounts are insured by the Federal
Deposit Insurance Corporation (FDIC).
Created by the Banking Act of 1933, the FDIC is an
independent federal government agency dedicated to
insuring bank and thrift institution deposits for at least
$250,000. To do so, the FDIC identifies potential
issues and guards the financial system against
negative effects due to the failure of a bank or thrift
institution.

3. Federal Deposit Insurance
Corporation
 With nearly $9 trillion in insured deposits across
the country, the FDIC has ensured that no one
has lost money from a failure since the
organization commenced operations in 1934.
The FDIC acts as both an insurer for deposits up
to the institution's insurance limit and the receiver
of its assets and debts. Rather than collecting
state or federal tax revenues, the FDIC is funded
by interest earnings on its U.S. Treasury securities
investment portfolio and premiums paid by
participating banks.