Why is the fdic still important?
Bank failures still occur and there has been a spike in the number recently. Though the US has bank examiners who periodically review the books of all banks, there is still the possibility of undetected shennanigans. The FDIC insures that depositors will get back the money they have on deposit in the bank. The limit has been temporarily raised to up to the first $500,000 in an account.
