FDIC (FEDERAL DEPOSIT INSURANCE CORP)

The year the FDIC was established was in 1933.

How did it help the Great Depression? To restore confidence in banks and encourage savings, Congress created the FDIC to insure bank customers against the loss of up to $5,000 their deposits if their bank should fail. Created by the Glass-Steagall Banking Reform Act of 1933, the FDIC is still in existence.

WORK CITED

• http://home.earthlink.net/~gfeldmeth/chart.newdeal.html
• http://faculty.washington.edu/qtaylor/Courses/101_USH/new_deal.htm