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)
“on a May morwening upon Malverne hilles
Me befel a ferly, of fairye me thoughte;
I was wery ofwandred and wente me to reste
Under a brod bank by a bournes side;
And as I lay and lenede and lookede on the watres,
I slomerede into a sleeping, it swyede so merye.”
—William Langland (1330–1400)