Question

What is the function of the FDIC?

It keeps savings and loans from going bankrupt.
It prevents big business monopolies and trusts.
It protects people's money in case a bank folds.
It provides protection for companies that go under.

Answer 1

The answer is C)It protects peoples money in case a bank folds.

Answer 2

The third answer is correct (C).

The Federal Deposit Insurance Corporation (FDIC) is an agency that seeks to ensure that US deposits in commercial banks have a minimum guarantee in cases of crisis and bankruptcy, as occurred during the Great Depression, when many citizens were harmed.