Dictionary of Banking Terms: Federal Deposit Insurance Corporation Improvement Act (FDICIA)
Federal Deposit Insurance Corporation Improvement Act (FDICIA)
federal law enacted in 1991 to address the thrift industry crisis. FDICIA recapitalized the Bank Insurance Fund (BIF) of the Federal Deposit Insurance Corporation (FDIC), expanded the authority of banking regulators to seize undercapitalized banks, and expanded consumer protections available to banking customers.
(11) required disclosure of more information ( truth in savings) on interest rates paid to depositors.
