Federal Deposit Insurance Corporation Improvement Act (FDICIA)

Definition

A 1991 law that increased the FDIC's ability to protect consumers. The Act increased the US Treasury's line of credit to $30 million, required tougher auditing and reporting standards, and created the Truth-In-Savings regulation that required member banks to disclose and support advertised savings yields. The law arose from the savings and loan crisis of the early 1990s.
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