FEDARAL DEPOSITE INSURANCE CORPORATION (FDIC)

The FDIC was established on June 16, 1933.

The purpose of the FDIC is to ensure that people would not lose there money they deposited if those banks closed. The FDIC was created because of a lot of banks failing in the 1920's.

The FDIC affects anyone with money in the bank. It benefits people because if the bank closes then there money is insured.

The FDIC is considered succesful. The FDIC has handled 370 bank failures from 1934-141.

The FDIC is still around today. The duties of the FDIC are still to ensure that people do not lose there money they deposited if banks close.

WORK CITED

• "Bank Closing," FDIC.N.P. n.d Web. 7 May 15.
• Federal Deposit Insurance Corporation (FDIC) Defenition| Investopedia