Question

Created by President Roosevelt’s New Deal legislation, what is the primary purpose of the Federal Deposit Insurance Corporation (FDIC)?
A.


to insure bank customers’ collateral goods are not seized by banks illegally



B.


to guarantee that bank customers insure their stock market investments



C.


to make sure that bank customers’ accounts are secure even if the bank fails



D.


to insure that banks distribute money only to the most reliable customers

Answer 1

Answer:

C.  to make sure that bank customers’ accounts are secure even if the bank fails

Explanation:

Federal Deposit Insurance Corporation was created by President Roosevelt’s New Deal legislation. The main purpose of the Federal Deposit Insurance Corporation (FDIC) is to insure the money deposits in the banks are safe even if there is bank failure in the times of great recession. This corporation helps in maintaining the trust of people on the financial system of United States of America.