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The FDIC made it possible for the American Public to have trust that they wouldn't lose there money if it was deposited in the bank and there was a recession or a Stock Market crash. The money in the bank accounts they have are insured by the United States Federal Government for up to $100,000.00 per account. That made it possible for the banks to make loans from the money that depositors had in the bank, instead of keeping money on hand and allowed America to grow and create new business'.
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What did the fdic do?
The FDIC was created during the financial chaos of the Great Depression. The stock market crash in October of 1929, and the subsequent crash in March of 1933, prompted the U.S. Government to create a federally-backed corporation that would provide stability and reassurance to the public. And on January 1, 1934, the FDIC was created. http://www.savewealth.com/banking/fdic/ Hopes it helps! ^^
What effect did D Day have back home in America?
D Day had the effect of removing many men from their jobs, which were then taken by women. It also increased military oriented productivity in America.
What effect did colonial unity have on the America of thinking?
go f**** your self
What Is the Purpose of the FDIC?
FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy.
What are some negative effects on America after World War 2?
One negative effect on America from ww2 was that the economy resulted in being in a horrible state because of all of the spending done. Another negative effect was the amount of Americans who lost there lives as a result of this horrible war.
Are Bank of America accounts FDIC insured?
As of January 1st, 2010 Bank of America no longer has FDIC nor has bank insured funds.
Ihave a risk free CD at bank of america in concord village. Is it FDIC insured?
Yes it is FDIC insured up to the maximum allowed.
What bank bought out suffolk Franklin savings?
confirmed thru the fdic website suffolk franklin savings bank (fdic # 17795), "merged into and subsequently operated as part of bank of america, national association in charlotte, north carolina (fdic #3510) on 6/13/2005. information obtained is historically correct as of 3/15/2012, ""the financial insitution about which you have inquired , suffolk franklin savings bank (fdic cert: 17795), is no longer doing business under that name. the active successor institution is bank of america, national association (fdic cert: 3510)
If the Fed. Gov't. takes over a bank like Bank Of America, with whom I have a corportae bond, will I lose that investment?
No, Bank of America is FDIC insured so your money is safe there.
What became of People's Bank FSB in Providence RI?
Assets are now owned by Bank of America. You can check with the fdic to verify at fdic.gov.
Is Flagstar bank FDIC insured?
Flagstar bank is a member of the FDIC and deposits are FDIC insured up to $250000 per account.
How did the FDIC start 1929?
The FDIC started in 1929 as a result of the depression
Who owns the FDIC?
The FDIC is a government-owned corporation, which means everybody does :)
is sterling bank fdic insured?
Yes, Sterling Bank is FDIC insured. All non-interest amounts in your account will be guaranteed by the FDIC.
What thing that effect the envirment from Latin America?
an enrioment effect for latin america
What is the role of FDIC?
The FDIC stands for Federal Deposit Insurance Corporation. The FDIC's role is to insure depositers up to a certain amount of money. They previously insured up to $100,000 however recently changed it to $250,000. The FDIC's job is guarentee that people's money is safe within their bank. If a bank is FDIC insured there should be signs within the bank with an FDIC logo on it.
Is Preferred Community Bank FDIC insured?
They are FDIC insured up to $100,000.
