The FDIC
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What did the FDIC insure
Deposits and thrifts in the event of bank failures
What is the FDIC?
Federal Deposit Insurance Corporation - Insure deposits up to $250,000
Under what act was the fdic created
Glass steagall act
What did the FDIC promote
Sound banking practices
Why was it created
To maintain public confidence and encourage stability in the banking system
Is the FDIC still around today
Yes Reassures depository insurance up to $100,000 and employs 7,000 people