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I cashed a check at my bank that was found to be fraudulent. Doesn't the bank have insurance to cover the loss so that I don't have to repay the bank?

No. Federal Deposit Insurance Corporation (FDIC) deposit insurance does not cover losses due to theft or fraud.

Depending on the circumstances and your state's laws, you may be held responsible for the entire amount of a fraudulent check that you cash or deposit into your account.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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