Regulating Banking Industry
In response to the Great Depression an economis disaster,the Federal Government set up Federal Deposit Insurance Corporation (FDIC)
In 1989 Congress started the Savings Association Insurance Fund (SAIF)which is administered by FDIC. SAIF insures deposits maximum of $100,000. Both FDIC and SAIF receive money to operate from insurance premium paid by member instituions. All federally charted banks must participate in FDIC program: banks not federally charted can choose to enroll. 		  Back