Question

The primary purpose of the federal deposit insurance corporation (fdic) was to __________.

a. close failing banks quickly
b. pay farmers to reduce agricultural supplies
c. build roads and trails on public lands
d. protect accounts in case of a bank failure user: frances perkins was the secretary of labor who promoted the idea of lowering the number of hours worked per week so that some of the unemployed people could find jobs

Answer 1

d. protect accounts in case of a bank failure

Answer 2

d. protect accounts in case of a bank failure.

Step-by-step explanation:

This is the main task of the Federal Deposit Insurance Corporation (FDIC). The task of this corporation is to insure deposits in U.S. banks in the event of bank failures. It also focuses on the promotion of sound banking practices and the maintenance of stability in the financial system. Therefore, it is a good idea for consumers to ensure that their institution is FDIC insured.