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:
“Daniel as a lad bought a handkerchief on which the Federal Constitution was printed; it is said that at intervals while working in the meadows around this house, he would retire to the shade of the elms and study the Constitution from his handkerchief.”
—For the State of New Hampshire, U.S. public relief program (1935-1943)
“We bank over Boston. I am safe. I put on my hat.
I am almost someone going home. The story has ended.”
—Anne Sexton (1928–1974)