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The FDIC is not an insurance company in the usual sense of the term. It is a federal entity the purpose of which is to reimburse bank depositors, to a maximum amount specified by law, in the event of the financial failure of a bank.
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Congress created the federal deposit insurance corporation in order to do what?
protect peoples savings accounts
What was enacted to protect people's savings?
The Federal Deposit Insurance Corporation(FDIC) in the 1930's
Congress created the Federal Deposit Insurance Corporation in order to?
NovaNET Answer: protect people's savings accounts.
What act was enacted to protect peoples savings?
The Federal Deposit Insurance Corporation(FDIC) in the 1930's.
The Federal Crop Insurance Corporation managed by this department sells insurance to protect against problems with weather insects and disease?
The Federal Crop Insurance Corporation managed by this department sells insurance to protect against problems with weather insects and disease is agriculture.
The federal crop corporation managed by this department sells insurance to protect against problems with weather insects and disease?
The federal crop corporation managed by the agriculture department sells insurance to protect against problems with weather insects and disease.
How do you protect your bank account with full FDIC?
FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently upto US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy. You can protect your account by depositing your money with the banks that have the FDIC insurance on deposits
What is the responsibility of the federal deposit insurance corporation?
The Federal Deposit Insurance Corporation (FDIC) is an independent U.S. government agency that provides deposit insurance to depositors in the event that an insured bank or savings institution fails. The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. Its goal is to promote stability and public confidence in the nation's banking system. The FDIC insures deposits at banks and savings institutions up to $250,000 per depositor, per insured bank, for each account ownership category. This means that if an FDIC-insured bank fails, depositors are protected up to $250,000. The FDIC also has the authority to take over failed banks and sell their assets to other financial institutions, in order to protect depositors and minimize disruption to the banking system. My recommendation 𝒉𝒕𝒕𝒑𝒔://𝒘𝒘𝒘.𝒅𝒊𝒈𝒊𝒔𝒕𝒐𝒓𝒆24.𝒄𝒐𝒎/𝒓𝒆𝒅𝒊𝒓/372576/𝑴𝒐𝒔𝒆𝒔𝒋𝒓1/
Where can one find out about CD type annuity?
CD-type annuities are discussed on a website known as Bankrate. In an article by Laura Bruce, Laura writes the FDIC or Federal Deposit Insurance Corporation does not protect against these CD-type annuities. She points out there is a chance for tax advantages and better rates but also points out the risks involved. For example, experts point out the IRS penalties and interest costs involved in getting out.
How do I form a corporation?
In order to form a corporation you need to fiile to be a corporation. This will protect you as an indvidual.
What step did FDR take to makes the nations financial system more stable?
He declared a bank holiday
Which type of deposit is paid in advance to protect landlords against nonpayments?
security deposit
