Federal Deposit Insurance Corporation (FDIC)

Federal Deposit Insurance Corporation (FDIC)

Intuition Publishing
Updated Sep 24, 2020

The FDIC, was established by the Banking Act of 1933 (the Glass-Steagall Act) in response to thousands of bank failures. Its purpose is to preserve and promote public confidence in the US financial system. We look at how the FDIC protects customers and what financial instruments are covered by the FDIC. We familiarize ourselves with the different deposit insurance funds.