The Federal Deposit Insurance Corporation is an independent agency created by Congress to maintain stability and public confidence in the nation's financial system. The FDIC Safeguard division supports federal fraud detection and card re-issuance in partnership with U.S. financial institutions.
The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships. Safeguard is a specialized program focused on protecting cardholders when fraud is detected.
Since its creation in 1933, the FDIC has been an essential part of the American financial system. In the 1920s and early 1930s, a rise in bank failures created a national crisis. Since FDIC insurance began in 1934, no depositor has lost a single penny of insured funds due to bank failure.