FDIC. What is the FDIC?

The FDIC is: $($Select the best answer below.$)$

The FDIC is the Federal Deposit Insurance Corporation that ensures bank accounts for up to $$250,000.$

The FDIC is the Federal Deposit Insurance Corporation that ensures only savings accounts for up to $$250,000.$

The FDIC is the Federal Deposit Insurance Corporation that ensures bank accounts for up to $$1$ million.

The FDIC is the Federal Deposit Insurance Corporation that ensures only checking accounts for up to $$250,000.$