what was the effect of the federal deposit insurance corporation
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the federal government responsible for insuring deposits made by individuals and companies in banks and other thrift institutions.The FDIC insures deposits up to $250,000.he Federal Deposit Insurance Company (FDIC) was created in 1933 as a way to mitigate the damage caused by thousands of bank failures stemming from the stock market crash of 1929 and other risky investments.
The Federal Deposit Insurance Company (FDIC) mitigates any potential damage to the United States economy by insuring deposits made to banks and other financial institutions. Savings, checking, individual retirement accounts (IRAs) and other deposit accounts (when combined) are insured up to $250,000 per depositor.he Federal Deposit Insurance Company (FDIC) was created in 1933 as a way to mitigate the damage caused by thousands of bank failures stemming from the stock market crash of 1929 and other risky investments.