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The Federal Deposit Insurance Corporation (FDIC)
Beginning of essay
The Federal Deposit Insurance Corporation (FDIC)
The Federal Deposit Insurance Corporation (FDIC) in an independent agency of the United States Congress that was created in 1933 in a section of the Federal Reserve Act. It’s main propose is to insure banks in the event of bank failure. In 1950, a ....
Middle of essay
....are to pay the depositors if an insured bank closes without enough money to pay the claims of its depositors. The Corporation also regularly examines insured banks that are not members of the Federal Reserve System and prescribes rules governing the payment and advertising of interest on deposits. A three-member board of directors manages the FDIC. The FDIC does not give protection against losses due to fire, theft, or fraud, which are insured by other companies under hazard and casualty insu.... |
| Number of words: 396 |
Approximate pages: 2 |
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