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 Federal Constitution has stood the test of more than a hundred years in supplying the powers that have been needed to make the Central Government as strong as it ought to be, and with this movement toward uniform legislation and agreements between the States I do not see why the Constitution may not serve our people always.”
—William Howard Taft (1857–1930)
“Good resolutions are useless attempts to interfere with scientific laws. Their origin is pure vanity. Their result is absolutely nil. They give us, now and then, some of those luxurious sterile emotions that have a certain charm for the weak.... They are simply cheques that men draw on a bank where they have no account.”
—Oscar Wilde (1854–1900)