FDIA

Federal Deposit Insurance Act (FDIA)

USA

The federal statute that, among other things:

• Establishes and sets the powers, responsibilities, and administration of the Federal Deposit Insurance Corporation (FDIC).

• Establishes the Deposit Insurance Fund.

• Sets the rules for banks to be insured by the FDIC.

• Sets safety and soundness standards for all insured banks.

• Regulates certain transactions and operational activities of all insured banks.

• Regulates the permissible business activities of insured state banks.

(12 U.S.C. §§ 1811-1835a.)