A major purpose of the FDIC (Federal Deposit Insurance Corporation) during the 1930s was to:

Answer:

strengthen consumer confidence in the banking system

explaination:

The FDIC was established in 1933 in response to the widespread bank failures that occurred during the Great Depression. Its primary role was to provide insurance for bank deposits, which meant that if a bank failed, depositors would not lose their money up to a certain limit. This insurance aimed to restore public confidence in the banking system, encouraging people to deposit their money in banks rather than hoarding cash or withdrawing their funds. By ensuring that deposits were safe, the FDIC helped stabilize the banking system and prevent further bank runs, which were common during that era.

Topic: History, Banking, FDIC

Tags: FDIC banking history Great Depression financial security

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A major purpose of the FDIC (Federal Deposit Insurance Corporation) during the 1930s was to:

Question:

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Answer:

explaination: