171 - FDIC - One Minute History
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History, Business
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11th Grade - University
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Hard
Wayground Content
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The FDIC was established in 1933 to restore public confidence after numerous bank failures during the Great Depression. It insures bank deposits up to $250,000 per depositor, but does not cover investments like stocks or bonds. The FDIC also oversees and monitors insured banks. During the savings and loan crisis of the 1980s and the financial crisis of 2008, the FDIC played a crucial role in resolving failed institutions and facilitating bank sales. Since its inception, no depositor has lost money from insured deposits.
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