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What is the FDIC? - Capital OneThe Federal Deposit Insurance Corporation is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of , enacted during the Great. The Federal Deposit Insurance Corp. (FDIC) is an independent federal agency insuring deposits in U.S. banks and thrifts in the event of bank failures. FDICconnect Business Center The FDICconnect Business Center is the secure Internet portal for FDIC-insured institutions to conduct business and exchange.