Today’s FDIC would reimburse the full amount and honor the investment terms.

Why would they be honest on FDIC insurance if they lie on rate ?

Late reply, but basically:

I pinky swear that my NotAScamBank is FDIC insured, and that it has 20% interest p.a., would you like to deposit money with me?

Obviously the FDIC is gonna take a look and say "hah no, go away", NotAScamBank knows this, and won't even bother applying. It's a scam, why would they be honest about FDIC status?