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jan 1, 1933 - The Banking Act

Description:

In 1933, the Banking Act was passed, creating the Federal Deposit Insurance Corporation (FDIC). This Act aimed to restore public trust in the banking system after the Great Depression. The FDIC insured bank deposits, providing people assurance that their money was safe, even if a bank failed. It was a crucial step in preventing future bank runs and promoting stability in the financial system.

Added to timeline:

econ

ByT Russell
29 Nov 2023
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Date:

jan 1, 1933
Now
~ 93 years ago
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