ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In 2011, President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. Dodd-Frank permanently raised the FDIC deposit insurance limit to $250, 000 per account. The Act also expanded the FDIC’s responsibilities to include regular risk assessments of all FDIC-insured institutions.

Detailed explanation-2: -June 16, 1933. The Glass-Steagall Act effectively separated commercial banking from investment banking and created the Federal Deposit Insurance Corporation, among other things. It was one of the most widely debated legislative initiatives before being signed into law by President Franklin D. Roosevelt in June 1933.

Detailed explanation-3: -A: Deposit products include checking accounts, savings accounts, CDs and MMDAs and are insured by the FDIC.

Detailed explanation-4: -The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails. Any person or entity can have FDIC insurance coverage in an insured bank. A person does not have to be a U.S. citizen or resident to have his or her deposits insured by the FDIC.

Detailed explanation-5: -As a globally established industry standard, EASE® stands for reliable, accurate, proven acoustic modeling that is scientifically based and has been continuously developed since 1990.