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Loan and Mortgage Terms Glossary

Fidelity Bond:

An insurance plan to insure savings institutions against infidelity by employees, including dishonesty, embezzlement of funds or other disappearances of cash. Some bonds also insure against robbers, burglars and vandals. Fidelity bond coverage is provided by private insurers, and is required by the saif as a condition for obtaining and keeping deposit insurance.


 
     
 
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