A federal savings bank (FSB) is a savings and loan association federally chartered in the United States. They are chartered and regulated by the Treasury Department's Office of the Comptroller of the Currency.
Federal savings banks are insured by the Federal Deposit Insurance Corporation. The FDIC insures individual accounts up to at least, originally, $100,000, currently $250,000 possibly until the year 2014, joint accounts up to $200,000, and retirement accounts up to $250,000.
Famous quotes containing the words federal and/or bank:
“The proposed Constitution ... is, in strictness, neither a national nor a federal constitution; but a composition of both.”
—James Madison (1751–1836)
“I know a bank where the wild thyme blows,
Where oxlips and the nodding violet grows,
Quite overcanopied with luscious woodbine,
With sweet musk-roses, and with eglantine:
There sleeps Titania sometime of the night,
Lulled in these flowers with dances and delight.”
—William Shakespeare (1564–1616)