Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) aims to keep people’s money safe. Specifically, the money people put into American banks. If money is lost they will replace it. The FDIC will replace up to $250,000 per person, per bank. As of September 30, 2012[update] the FDIC insured 7,895 different banks or institutions.[2] The FDIC also watches banks or institutions for problems or failings.
| Federal Deposit Insurance Corporation | |
|---|---|
| |
| |
| Agency overview | |
| Formed | June 16, 1933 |
| Jurisdiction | Federal government of the United States |
| Headquarters | Washington, D.C. |
| Employees | 8,713 (December 2012)[1] |
| Agency executives | Jelena McWilliams, Chairman Vacant, Vice Chairman |
| Website | |
| www.fdic.gov | |
The FDIC was made during the Great Depression by President Franklin Roosevelt in June 1933. This is an important occurrence in United States history because it guaranteed people their money. This also helped people feel safer when using banks in the United States.
Federal Deposit Insurance Corporation Media
Example of FDIC insurance coverage
The FDIC's satellite campus in Arlington, Virginia, is home to many administrative and support functions, though the most senior officials work at the main building in Washington
President Franklin Delano Roosevelt signs the Banking Act of 1933.
Bank sign indicating the original insurance limit offered by the FDIC of $2,500 in 1934
FDIC_Chairman_Walter_J._Cummings
Leo T. Crowley served as FDIC Chairman from 1934 to 1945. He had previously headed Wisconsin's Banking Review Board, which it handled problem bank situations
Portrait photo of Chairmen Maple T. Harl
Portrait photo FDIC chairman Henry E. Cook
Sources
- ↑ "Statistics At A Glance". FDIC. Archived from the original on 27 June 2012. Retrieved 8 June 2012.
- ↑ "fdic key statistics". Archived from the original on 2010-06-04. Retrieved 2010-06-03.
Other websites
- Federal Deposit Insurance Corporation (official website)
- FDIC Statistics at a Glance Archived 2008-09-14 at the Wayback Machine (FDIC.gov)
- FDIC List of Failed Banks
- The Federal Deposit Insurance Reform Conforming Amendments Act of 2005
- History including Boards of Directors Archived 2017-06-28 at the Wayback Machine
- 60 Minutes - Your Bank Has Failed: What Happens Next? Archived 2013-05-11 at the Wayback Machine
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