https://padlet.com/19wardhun/4e4g1gglmedr Alex and Hunter en-us 2018-03-07 18:10:33 UTC 2018-03-08 18:30:11 UTC hello@padlet.com 19wardhun https://padlet.com/19wardhun/4e4g1gglmedr/wish/239795828 Federal
Deposit
Insurance
Cooperation
FDIC-an independent U.S. government corporation created under authority of the Banking Act of 1933
5 board members are appointed by the president of the U.S. Those titles are chairman, vice chairman, director, comptroller of the currency, and director of the Office of Thrift Supervision.

]]> 2018-03-08 17:32:24 UTC https://padlet.com/19wardhun/4e4g1gglmedr/wish/239795828 19wardhun https://padlet.com/19wardhun/4e4g1gglmedr/wish/239797984 Anybody, in America, who has an account in any commercial bank benefits from this. They will not lose their money if tragedy strikes.]]> 2018-03-08 17:35:32 UTC https://padlet.com/19wardhun/4e4g1gglmedr/wish/239797984 19wardhun https://padlet.com/19wardhun/4e4g1gglmedr/wish/239798132 The FDIC's main function is to to give people their money back if all of their money is lost in a failing bank. So basically we hopefully won't have another Great Depression. The FDIC will insure up to $250,000 in our world today. The FDIC would insure commercial bank deposits of $2,500 (later $5,000) with a pool of money collected from the banks. The FDIC also and supervises state-chartered banks that are not members of the Federal Reserve System, while fostering consumer confidence in the banking system. So to make that short the FDIC is responsible to insure bank deposits in eligible banks against loss in the event of a bank failure and to regulate certain banking practices.

]]> 2018-03-08 17:35:46 UTC https://padlet.com/19wardhun/4e4g1gglmedr/wish/239798132 19wardhun https://padlet.com/19wardhun/4e4g1gglmedr/wish/239799241 The FDIC was created in the Glass-Steagall  act of 1933  and modeled after the deposit insurance program initially enacted in Massachusetts. The FDIC was created during the  Great Depression to restore trust in the American banking system. FDR created the act right when he got into office but it wasn't signed until June. Small, rural banks were in favor of deposit insurance. Larger banks opposed the measure. They worried they would end up subsidizing smaller banks. Originally denounced by the American Bankers Association as too expensive and an artificial support of bad business activity, the FDIC was declared a success when only nine additional banks closed in 1934.

]]> 2018-03-08 17:37:25 UTC https://padlet.com/19wardhun/4e4g1gglmedr/wish/239799241 19wardhun https://padlet.com/19wardhun/4e4g1gglmedr/wish/239819055 https://www.fdic.gov/index.html]]> 2018-03-08 18:10:15 UTC https://padlet.com/19wardhun/4e4g1gglmedr/wish/239819055