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Federal Deposit Insurance Corporation (FDIC)

Federal Deposit Insurance Corporation (FDIC). Established. From 1886 to 1933 there were around 150 tries to get a deposit insurance company. Adopted in 1933 Chairman of the House Committee was a big part in getting it started

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Federal Deposit Insurance Corporation (FDIC)

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  1. Federal Deposit Insurance Corporation (FDIC)

  2. Established • From 1886 to 1933 there were around 150 tries to get a deposit insurance company. • Adopted in 1933 • Chairman of the House Committee was a big part in getting it started • The banks that failed right before 1933 were supposed to strengthen the banking system.

  3. What it did The FDIC is an independent agency insures most of your money that is in an FDIC insured bank. If a bank failed the corporation would pay all the people that had money in that bank up to a certain amount.

  4. Successful? People were more confident in putting their money in the banks. They knew they couldn’t lose all of their money. First Deposit insurance corporation to work out of around 150 since 1866.

  5. Still Around The FDIC is still around and it has made many changes since 1933 to make it better and easier to trust. Now if a bank fails you can get up to 250,000 dollars back from the FDIC. The FDIC still has the same goal, to give people the confidence to keep their money in a bank.

  6. National Recovery Administration (NRA)/National Industrial Recovery Act (NIRA)

  7. Established The NRA was established in 1933 by Franklin Roosevelt. The NIRA was enforced in 1933.

  8. What it did NRA was made to eliminate competition that would put businesses out of business Helped workers by setting minimum wages and maximum hours NIRA was made to get industries to make a code of fair competition Purpose was to regulate industry and they monopolies and cartels

  9. Successful? The NIRA made codes of fair competition for industry Gave $3.3 billion to public works projects Amended the Emergency Relief and Construction Act NRA- Let people that had businesses get together and set their prices Set shorter hours so more people could work. About 23,000,000 workers worked under the fair code in 1934.

  10. Still Around The NRA was said to be unconstitutional It did what the individual states were supposed to do It ended in 1935 The NIRA had a two year expiration and it ended in 1935 because the government shouldn’t do the states’ job.

  11. Questions What did the NRA and NIRA do to help businesses?

  12. Questions • What does the FDIC do?

  13. Sources • http://www.fdic.gov/bank/analytical/firstfifty/chapter3.html • http://www.pbs.org/wgbh/americanexperience/features/general-article/dustbowl-new-deal/ • http://www.fdic.gov/bank/analytical/firstfifty/chapter1.html • http://en.wikipedia.org/wiki/National_Industrial_Recovery_Act • http://en.wikipedia.org/wiki/National_Recovery_Administration

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