What We Do | FDIC

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var(--fdic-dark-blue);"> <a href="/news/press-releases/2024/first-bank-trust-co-duncan-ok-acquires-insured-deposits-first-national">First Bank & Trust Co., Duncan, OK, Acquires Insured Deposits of The First…</a> </div> </div> <div class="glider-card full-border " id="glider-card-3" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="/news/press-releases/2024/fdic-appoints-hansel-cordeiro-director-new-office-professional-conduct"> <img loading="lazy" src="/system/files/styles/glider_thumbnail/private/2024-10/pen_latest-news-flyover-283-143px.png?itok=-RyrE1Hf" width="277" height="141" alt="pen-latest-news-flyover-283-143px.png" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PRESS RELEASE / October 16, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="/news/press-releases/2024/fdic-appoints-hansel-cordeiro-director-new-office-professional-conduct">FDIC Appoints Hansel Cordeiro as Director of 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id="block-views-blocknews-latest-news-blocks-latest-news-megamenu--2" class="block block-views block-views-blocknews-latest-news-blocks-latest-news-megamenu"> <div class="views-element-container"><div class="glider bg-blue js-view-dom-id-3a0f96d3c27387dc31dc87c5cc75d55a2cddd38b1c711c063046eec4586f6321"> <div class="glider-track "> <div class="glider-card full-border " id="glider-card-0" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="https://podcasters.spotify.com/pod/show/fdic/episodes/The-Unbanked-e2r5eil"> <img loading="lazy" src="/sites/default/files/styles/glider_thumbnail/public/2024-03/fdicpodcastgraphic-283x143.png?itok=i_SSbqZp" width="277" height="141" alt="FDIC Podcast" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PODCASTS / November 18, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="https://podcasters.spotify.com/pod/show/fdic/episodes/The-Unbanked-e2r5eil">The Unbanked</a> </div> </div> <div class="glider-card full-border " id="glider-card-1" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="/news/press-releases/2024/fdic-survey-finds-96-percent-us-households-were-banked-2023"> <img loading="lazy" src="/system/files/styles/glider_thumbnail/private/2024-11/househld-survey-latest-news-flyover-283-143px.png?itok=2dwUJY-d" width="277" height="141" alt="househld-survey-latest-news-flyover-283-143px.png" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PRESS RELEASE / November 12, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="/news/press-releases/2024/fdic-survey-finds-96-percent-us-households-were-banked-2023">FDIC Survey Finds 96 Percent of U.S. Households Were Banked in 2023</a> </div> </div> <div class="glider-card full-border " id="glider-card-2" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="/news/press-releases/2024/first-bank-trust-co-duncan-ok-acquires-insured-deposits-first-national"> <img loading="lazy" src="/system/files/styles/glider_thumbnail/private/2024-10/bank-lates-news-283x143px.jpg?itok=XuBcx7Qv" width="277" height="141" alt="Bank Latest News" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PRESS RELEASE / October 18, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="/news/press-releases/2024/first-bank-trust-co-duncan-ok-acquires-insured-deposits-first-national">First Bank & Trust Co., Duncan, OK, Acquires Insured Deposits of The First…</a> </div> </div> <div class="glider-card full-border " id="glider-card-3" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="/news/press-releases/2024/fdic-appoints-hansel-cordeiro-director-new-office-professional-conduct"> <img loading="lazy" src="/system/files/styles/glider_thumbnail/private/2024-10/pen_latest-news-flyover-283-143px.png?itok=-RyrE1Hf" width="277" height="141" alt="pen-latest-news-flyover-283-143px.png" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PRESS RELEASE / October 16, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="/news/press-releases/2024/fdic-appoints-hansel-cordeiro-director-new-office-professional-conduct">FDIC Appoints Hansel Cordeiro as Director of New Office of Professional Co…</a> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </li> <li class="tbm-item level-1 tbm-item--has-dropdown" aria-level="1" > <div class="tbm-link-container"> <a href="/analysis" class="tbm-link level-1 tbm-toggle" aria-expanded="false"> Analysis </a> <button class="tbm-submenu-toggle"><span class="visually-hidden">Toggle submenu</span></button> </div> <div class="tbm-submenu tbm-item-child" role="list"> <div 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Browse our extensive research tools and reports.</p><p><a href="/analysis">More FDIC Analysis</a></p></div></div> </div> </div> </div> </div> </div> <div class="tbm-column span3 hidden-collapse"> <div class="tbm-column-inner"> <ul class="tbm-subnav level-1 items-3" role="list"> <li class="tbm-item level-2" aria-level="2" > <div class="tbm-link-container"> <a href="/center-financial-research" class="tbm-link level-2"> Center for Financial Research </a> </div> </li> <li class="tbm-item level-2" aria-level="2" > <div class="tbm-link-container"> <a href="/consumer-research" class="tbm-link level-2"> Consumer Research </a> </div> </li> <li class="tbm-item level-2" aria-level="2" > <div class="tbm-link-container"> <a href="/household-survey" class="tbm-link level-2"> FDIC National Survey of Unbanked and Underbanked Households </a> </div> </li> </ul> </div> </div> <div class="tbm-column span3 hidden-collapse"> <div class="tbm-column-inner"> <ul class="tbm-subnav level-1 items-4" role="list"> 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href="/quarterly-banking-profile/fdic-quarterly-banking-profile-second-quarter-2024">FDIC-Insured Institutions Reported Net Income of $71.5 Billion</a> </div> </div> <div class="glider-card full-border " id="glider-card-1" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="https://www.fdic.gov/analysis/quarterly-banking-profile/qbp/2024mar/"> <img loading="lazy" src="/sites/default/files/styles/glider_thumbnail/public/2024-05/qbp-q1-2024.png?itok=WG14C4zi" width="277" height="141" alt="Quarterly Banking Profile for First Quarter 2024" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> EVENT / May 29, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="https://www.fdic.gov/analysis/quarterly-banking-profile/qbp/2024mar/">Quarterly Banking Profile for First Quarter 2024</a> </div> </div> <div class="glider-card full-border " id="glider-card-2" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="https://www.fdic.gov/analysis/quarterly-banking-profile/qbp/2023dec/"> <img loading="lazy" src="/sites/default/files/styles/glider_thumbnail/public/2024-03/qbp-q4-2023.jpg?itok=TMbfmAZ0" width="277" height="141" alt="FDIC-Insured Institutions Reported Net Income of $38.4 Billion in Fourth Quarter 2023" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> EVENT / March 07, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="https://www.fdic.gov/analysis/quarterly-banking-profile/qbp/2023dec/">Quarterly Banking Profile for Fourth Quarter 2023</a> </div> </div> <div class="glider-card full-border " id="glider-card-3" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="https://www.fdic.gov/analysis/quarterly-banking-profile/qbp/2023sep/"> <img loading="lazy" src="/sites/default/files/styles/glider_thumbnail/public/2024-03/qbp-q3-2023-283x143.jpg?itok=v2mZU2uM" width="277" height="141" alt="Quarterly Banking Profile for Third Quarter 2023" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> EVENT / November 29, 2023 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="https://www.fdic.gov/analysis/quarterly-banking-profile/qbp/2023sep/">Quarterly Banking Profile for Third Quarter 2023</a> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </li> <li class="tbm-item level-1 tbm-item--has-dropdown" aria-level="1" > <div class="tbm-link-container"> <a href="/news" class="tbm-link level-1 tbm-toggle" aria-expanded="false"> News </a> <button class="tbm-submenu-toggle"><span class="visually-hidden">Toggle submenu</span></button> </div> <div class="tbm-submenu tbm-item-child" role="list"> <div class="tbm-row"> <div class="tbm-column span6 menu-description-block"> <div class="tbm-column-inner"> <div class="tbm-block"> <div class="block-inner"> <div 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"> <div class="glider-card full-border " id="glider-card-0" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="https://podcasters.spotify.com/pod/show/fdic/episodes/The-Unbanked-e2r5eil"> <img loading="lazy" src="/sites/default/files/styles/glider_thumbnail/public/2024-03/fdicpodcastgraphic-283x143.png?itok=i_SSbqZp" width="277" height="141" alt="FDIC Podcast" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PODCASTS / November 18, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="https://podcasters.spotify.com/pod/show/fdic/episodes/The-Unbanked-e2r5eil">The Unbanked</a> </div> </div> <div class="glider-card full-border " id="glider-card-1" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="/news/press-releases/2024/fdic-survey-finds-96-percent-us-households-were-banked-2023"> <img loading="lazy" src="/system/files/styles/glider_thumbnail/private/2024-11/househld-survey-latest-news-flyover-283-143px.png?itok=2dwUJY-d" width="277" height="141" alt="househld-survey-latest-news-flyover-283-143px.png" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PRESS RELEASE / November 12, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="/news/press-releases/2024/fdic-survey-finds-96-percent-us-households-were-banked-2023">FDIC Survey Finds 96 Percent of U.S. Households Were Banked in 2023</a> </div> </div> <div class="glider-card full-border " id="glider-card-2" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="/news/press-releases/2024/first-bank-trust-co-duncan-ok-acquires-insured-deposits-first-national"> <img loading="lazy" src="/system/files/styles/glider_thumbnail/private/2024-10/bank-lates-news-283x143px.jpg?itok=XuBcx7Qv" width="277" height="141" alt="Bank Latest News" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PRESS RELEASE / October 18, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="/news/press-releases/2024/first-bank-trust-co-duncan-ok-acquires-insured-deposits-first-national">First Bank & Trust Co., Duncan, OK, Acquires Insured Deposits of The First…</a> </div> </div> <div class="glider-card full-border " id="glider-card-3" style="background-color: #FFFFFF;"> <div class="glider-card-thumbnail"><a href="/news/press-releases/2024/fdic-appoints-hansel-cordeiro-director-new-office-professional-conduct"> <img loading="lazy" src="/system/files/styles/glider_thumbnail/private/2024-10/pen_latest-news-flyover-283-143px.png?itok=-RyrE1Hf" width="277" height="141" alt="pen-latest-news-flyover-283-143px.png" /> </a></div> <div class="glider-card-subtitle" style="color: #736539;"> PRESS RELEASE / October 16, 2024 </div> <div class="glider-card-title" style="color: var(--fdic-dark-blue);"> <a href="/news/press-releases/2024/fdic-appoints-hansel-cordeiro-director-new-office-professional-conduct">FDIC Appoints Hansel Cordeiro as Director of New Office of Professional Co…</a> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </li> <li class="tbm-item level-1 megamenu-search tbm-item--has-dropdown" aria-level="1" > <div class="tbm-link-container"> <span class="tbm-link level-1 no-link tbm-toggle" tabindex="0" aria-expanded="false"> Search </span> <button class="tbm-submenu-toggle"><span class="visually-hidden">Toggle submenu</span></button> </div> <div class="megamenu-search-submenu tbm-submenu tbm-item-child" role="list"> <div class="tbm-row"> <div class="tbm-column span12"> <div class="tbm-column-inner"> <div class="tbm-block"> <div class="block-inner"> <div id="block-block-contentd1147a03-bf80-463f-aa08-63c2f29068a0" class="block block-block-content block-block-contentd1147a03-bf80-463f-aa08-63c2f29068a0"> <div class="field field--name-body 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class="first" data-drupal-link-system-path="node/56086">Headquarters Directory</a> </li> <li> <a href="/about/organization-directory-regional-offices" data-drupal-link-system-path="node/56091">Regional Directory</a> </li> <li class="last"> <a href="/about/agents-service-process" class="last" data-drupal-link-system-path="node/56376">Agents for Service of Process</a> </li> </ul> </li> </ul> </div> </div> <main id="main-content" class="ds-region-middle order-1 mobile--order-0"> <div id="block-fdic-theme-content" class="block block-system block-system-main-block"> <article data-me-edit-screen-key="a579ad16-7100-4345-824f-5bed7e7ef9b3" data-me-edit-screen-entity-id="56166" class="node--wholepage"> <div> <div class="field field--name-field-content field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <div class="paragraph paragraph--type--text paragraph--view-mode--default"> <h2>What We Do</h2><div class="align-right media media--type-image media--view-mode-scale-width-m"> <div class="field field--name-field-media-image field--type-image field--label-hidden field__items"> <div class="field__item"> <img loading="lazy" src="/system/files/styles/scale_width_m/private/2024-07/fdic-bldg-seal.jpg?itok=VWj20l6Q" width="380" height="253" alt="The Seal of the FDIC on the side of the building"> </div></div> </div> <p>The mission of the Federal Deposit Insurance Corporation (FDIC) is to maintain stability and public confidence in the nation's financial system. In support of this goal, the FDIC:</p><ul><li><a href="/resources/deposit-insurance/understanding-deposit-insurance" data-entity-type="node" data-entity-uuid="45ee7118-f9a1-482b-a9a8-7d4e6723feed" data-entity-substitution="canonical" title="Understanding Deposit Insurance">Insures deposits</a>,</li><li><a href="/banker-resource-center" data-entity-type="node" data-entity-uuid="5f100776-57a3-4e75-baf3-82ac4567ecef" data-entity-substitution="canonical" title="Banker Resource Center">Examines and supervises financial institutions</a> for safety and soundness and consumer protection,</li><li>Works to make large and complex financial institutions <a href="/resolutions" data-entity-type="node" data-entity-uuid="e6af2005-b428-4d1b-9187-ec4bc2f05eaa" data-entity-substitution="canonical" title="Failing Bank Resolutions">resolvable</a>, and</li><li><a href="/bank-failures" data-entity-type="node" data-entity-uuid="6334d37c-47ef-48b1-9898-0fb9b6f8b64d" data-entity-substitution="canonical" title="Bank Failures">Manages receiverships</a>.</li></ul><p>An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. <a href="/history" data-entity-type="node" data-entity-uuid="14081782-20bc-4069-8452-03b46742636d" data-entity-substitution="canonical" title="History of the FDIC">Learn more about the history of the FDIC</a>.</p><p>The FDIC receives no Congressional appropriations - it is funded by premiums that banks and savings associations pay for deposit insurance coverage. The FDIC insures trillions of dollars of deposits in U.S. banks and thrifts - deposits in virtually every bank and savings association in the country.</p><h3>Deposit Insurance</h3><p>The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Since the start of FDIC insurance on January 1, 1934, no depositor has lost a penny of insured funds as a result of a failure. The FDIC's <a href="https://edie.fdic.gov/">Electronic Deposit Insurance Estimator</a> can help you determine if you have adequate deposit insurance for your accounts. The FDIC insures deposits only. It does not insure securities, mutual funds, or similar types of investments that banks and thrift institutions may offer. <a href="/resources/deposit-insurance/understanding-deposit-insurance" data-entity-type="node" data-entity-uuid="45ee7118-f9a1-482b-a9a8-7d4e6723feed" data-entity-substitution="canonical" title="Understanding Deposit Insurance">Learn more about deposit insurance</a>.</p><h3>Supervision & Examination</h3><p>The FDIC directly supervises and examines more than 5,000 banks and savings associations for operational safety and soundness. Banks can be chartered by the states or by the Office of the Comptroller of the Currency. Banks chartered by states also have the choice of whether to join the Federal Reserve System. The FDIC is the primary federal regulator of banks that are chartered by the states that do not join the Federal Reserve System. In addition, the FDIC is the back-up supervisor for the remaining insured banks and savings associations.</p><p>The FDIC also examines banks for compliance with consumer protection laws, including the Fair Credit Billing Act, the Fair Credit Reporting Act, the Truth in Lending Act, and the Fair Debt Collection Practices Act, to name a few. Finally, the FDIC examines banks for compliance with the Community Reinvestment Act, which requires banks to help meet the credit needs of the communities they were chartered to serve.</p><h3>Resolutions</h3><p>To protect insured depositors, the FDIC responds immediately when a bank or savings association fails. Institutions generally are closed by their chartering authority - the state regulator or the Office of the Comptroller of the Currency. The FDIC has several options for resolving institution failures, but the most common is to sell the deposits and loans of the failed institution to another institution. Customers of the failed institution automatically become customers of the assuming institution. Most of the time, the transition is seamless from the customer's point of view.</p><h3>Where We Are</h3><p>The FDIC is headquartered in Washington, DC, and has established <a href="/about/organization-directory-regional-offices" data-entity-type="node" data-entity-uuid="e41db1e6-a6fe-46cc-a159-ecb033c928ee" data-entity-substitution="canonical" title="Organization Directory - Regional Offices">regional and field offices</a> around the country.</p><h3>Who We Are</h3><p>The FDIC is managed by a five-person <a href="/about/board-directors-senior-executives" data-entity-type="node" data-entity-uuid="7fe8cb62-18ab-49a5-a256-521656f997c9" data-entity-substitution="canonical" title="Board of Directors & Senior Executives">Board of Directors</a> that includes the Comptroller of the Currency and the Director of the Consumer Financial Protection Bureau, all of whom are appointed by the President and confirmed by the Senate, with no more than three being from the same political party.</p><p>For more information about the FDIC’s mission and operations, please be sure to browse the additional information offered in the <a href="/about/">About section</a> of this website.</p><p>Thank you for your interest in the FDIC.</p> </div> </div></div> </div> </article> </div> <div id="block-fdic-theme-news-last-updated-block" class="text-align-right block block-fdic-custom block-fdic-node-last-updated-block"> <p>Last Updated: May 15, 2020</p> </div> </main> </div> </div> <footer class="usa-footer usa-footer--medium" role="footer"> <div class="footer-primary"> <div class="grid-container flex-row-wrap flex-center-x flex-children-1 mobile--flex-col"> <div id="block-fdic-theme-footercontactthefdic" class="block block-block-content block-block-content1ad48bca-4eaa-42fe-9f6e-ca59046baba4"> <div class="field field--name-body field--type-text-with-summary field--label-hidden field__items"> <div class="field__item"><div class="text-center"><p class="font-size-1p5 text-fdic-white font-title 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