Federal Deposit Insurance Corporation

Information on the F.D.I.C

The F.D.I.C was established in 1933.

The F.D.I.C was established because of all the bank failures during the 1920's and 1930's. Now the F.D.I.C makes sure the bank depositors money is safe.

The F.D.I.C major duties are to
- make sure to insure depositors up to a certain amount of money
- they have changed it to insure up to $250,000
- they promise people that their money is safe in their banks

There are five leaders of the F.D.I.C
- Martin J. Gruenberg, chairman of the board
- Thomas M. Hoenig, vice chairman
- Jeremiah O. Norton
- Thomas J. Curry, comptroller of the currency
- Richard Corday, director and consumer financial protection bureau
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