Federal deposit insurance corporation fdr biography

Sections within this essay:

Background
History
How the FDIC Works
Definitions
Additional Resources
Organizations
Board of Governors of the Federal Reserve System Division of Consumer and Community Affairs
Federal Deposit Insurance Corporation (FDIC)
Office of the Comptroller of the Currency
Office of Thrift Supervision Consumer Program Division

Background

Congress created the Federal Deposit Insurance Corporation (FDIC) in 1933 to protect consumers who hold their money in banks from bank failures.

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Depositors—persons who hold money in savings accounts, checking accounts, certificates of deposit, money market accounts, Individual Retirement Accounts (IRAs), or Keogh accounts—have FDIC protection of up to $100,000 in the event of a bank failure. The FDIC regulates all banks that are members of the Federal Reserve System and certain banks that are not members of the Federal Reserve System.

It is the FDIC's mission to monitor and regulate the banking industry, making certain t