THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which New Deal program insured checking and savings accounts?
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Civilian Conservation Corps
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Fair Labor Standards Act
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Federal Deposits Insurance Corporation
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Social Security Act
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Explanation:
Detailed explanation-1: -On June 16, 1933, Roosevelt signed the 1933 Banking Act into law, creating the FDIC.
Detailed explanation-2: -The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system.
Detailed explanation-3: -1934. The FDIC deposit insurance goes into temporary effect on January 1, 1934. The deposit insurance level is $2, 500.
Detailed explanation-4: -The FDIC, or Federal Deposit Insurance Corporation, is an agency created in 1933 during the depths of the Great Depression to protect bank depositors and ensure a level of trust in the American banking system.
There is 1 question to complete.