The FDIC was established by the: Banking Act of 1933
Federal Reserve Act of 1917
National Currency Act
Dual Banking System

The Federal Deposit Insurance Corporation (“FDIC”) has been credited with helping consumer confidence in the banking sector by insuring bank deposits “backed by the full faith and credit of the U.S. government.”[1] Most U.S. citizens do not even consider bank failure when they put their money in the financial services sector—even though just two short generations ago bank runs were commonplace. Part of the reason for this is that, since the creation of the FDIC, no banking customer “has ever lost a penny of insured deposits.”[2] The FDIC has been a powerful force in banking regulation that has served to secure our financial system.

This paper gives a broad overview of this important government entity. Section I describes the history and evolution of the FDIC, up to and including the recent financial crisis in 2008. Part II of the article describes the current authority of the FDIC, using historical examples of this authority. Part III gives practical ways that the FDIC works along with suggestions on how a person or business entity can maximize their insured deposits.

glamis thou art, and cawdor; and shalt be what thou art promis'd; yet do i fear thy nature; it is too full o' the milk of human kindness to catch the nearest way: thou wouldst be great; art not without ambition; but without the illness should attend it. what thou wouldst highly, that wouldst thou holily; wouldst not play false, and yet wouldst wrongly win: thou'dst have, great glamis, that which cries, "thus thou must do, if thou have it: and that which rather thou dost fear to do than wishest should be undone." hie thee hither, that i may pour my spirits in thine ear; and chastise with the valor of my tongue all that impedes thee from the golden round, which fate and metaphysical aid doth seem to have thee crown'd withal.  

he lacks ambition.  

he is hesitant.  

he lacks courage.  

he has moral scruples.

answer: c

explanation: