Which of the following describes the Federal Deposit Insurance Corporation (FDIC) ?
A) It was one of Herbert Hoover's only effective responses to bank failures.
B) It guaranteed bank customers that the federal government would reimburse them for deposits if their bank failed.
C) It was an emergency measure Roosevelt passed to close the nation's banks until they were solvent again.
D) It was a system through which the federal government would deposit money into regional banks to strengthen them.
Correct Answer:
Verified
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