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LSDefine

Simple English definitions for legal terms

FDIC

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A quick definition of FDIC:

The FDIC is like a safety net for your money. It makes sure that if your bank fails, you can still get your money back. It insures up to $250,000 for each type of account you have, like a savings account or retirement account. You can have insured accounts at different banks too. Banks have to follow certain rules to be insured by the FDIC. If a bank fails, the FDIC will use the bank's assets to pay back the people who had money in the bank. Banks pay the FDIC to insure their deposits.

A more thorough explanation:

The Federal Deposit Insurance Corporation (FDIC) is a government agency that provides insurance for deposits made by individuals at banks. This means that if a bank fails, the FDIC will ensure that depositors receive their money back, up to $250,000 per account type.

For example, if an individual has a savings account, a retirement account, and a trust account, they would be insured for up to $750,000 ($250,000 per account type). If they have accounts at multiple banks, they can be insured for even more.

The FDIC also has the power to regulate banks and require certain standards in exchange for insuring their deposits. This helps to prevent bank failures and protect depositors.

Overall, the FDIC provides peace of mind for individuals who deposit their money in banks, knowing that their money is safe even if the bank fails.

FDCPA | federal

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JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
shaquilleoatmeal
17:43
went to eat - did anyone guess the bowl lmao
shaquilleoatmeal
17:43
ooo yall were too busy with that kendrick shit
shaquilleoatmeal
17:45
put me on - whats the first song on the album thats heat
babycat
17:45
I don’t know sweetgreen like that because I’m not part of the PMC. your legs looked super tan though
hey now is my favorite
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