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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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General

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Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
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