Federal Deposit Insurance Corporation (FDIC)

The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the U.S. Congress to maintain stability and public confidence in the nation's financial system.

The FDIC insures deposits in banks and thrifts up to $250,000 per depositor.

An FDIC search is a check of the Federal Deposit Insurance Corporation's (FDIC) records to determine if an individual has any prior criminal or financial history that would make them ineligible to work in the financial industry.

The FDIC search is typically conducted as part of a broader background investigation, which may also include checks of other databases, such as the Federal Reserve Board Enforcement Actions and the FINRA BrokerCheck.

You might want to utilize an FDIC search for a few reasons, including to verify employment history, check for financial problems, or to comply with regulations.

Some industries, such as the financial services industry, are subject to regulations that require employers to conduct background checks on potential employees.

Entrusting financial responsibilities to individuals with questionable financial histories poses risks to your organization's reputation and financial security.

An FDIC search can help you comply with these regulations, and reduce risk of an inadequate hire.

It is important to note that an FDIC search is not a complete background check. It is essential to conduct a comprehensive background check that includes other factors, such as criminal history, or other financial specific inquiries.

A FDIC search is a valuable tool that can help you to hire the best possible employees and protect your company from financial risk.