The agency that was created to protect depositors after the banking failures of 1930-1933 is the
A)Federal Reserve System.
B)Federal Deposit Insurance Corporation.
C)Treasury Department.
D)Office of the Comptroller of the Currency.

Question

Quizplus · Accepted Answer

The Federal Deposit Insurance Corporation (FDIC) was created in 1933 as a response to the banking crises of the early 1930s. Its function is to protect depositors in case of bank failures by insuring deposits up to a certain limit. The other options mentioned, the Federal Reserve System, Treasury Department, and Office of the Comptroller of the Currency, do play important roles in the regulation and oversight of banks, but they do not have the primary responsibility of protecting depositors.

The Agency That Was Created to Protect Depositors After the Banking