The major protection against sudden mass attempt to withdraw cash from banks is the:
A) Federal Reserve.
B) Consumer Protection Act.
C) deposit insurance provided by the FDIC.
D) gold and silver backing the dollar.

Question

Quizplus · Accepted Answer

The deposit insurance provided by the FDIC guarantees that depositors will not lose their money even if the bank is unable to pay its debts, up to a certain limit. This assurance helps prevent panics and runs on banks, as depositors are confident that their funds are safe.

The Major Protection Against Sudden Mass Attempt to Withdraw Cash