IDC deposits

Definition

A company founded in 2000 to create a system where investors could conveniently make large deposits and still receive FDIC insurance for the entire amount, which is currently limited to $250,000 per account as of 2011. The IDC does this by distributing large deposits across its network of nationwide banks so that each individual account will still meet FDIC requirements (i.e. each under $250,000), but when taken as a whole the sum can total several million dollars using its MMAX account structure.
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