Question

New Deal Programs impact

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How did the creation of the Federal Deposit Insurance Corporation change the nature of banking in the United State
O The government began to guarantee bank deposits
Depositors could transfer investments without penalties
Depositors were guaranteed minimum interest rates on savings
O The government required taxpayers to open savings accounts
Nov 10
11

Answer 1

The creation of the FDIC impacted banking in the United States by guaranteeing bank deposits and increasing public confidence in the banking system during the Great Depression.

Step-by-step explanation:

The creation of the Federal Deposit Insurance Corporation (FDIC) changed the nature of banking in the United States by guaranteeing bank deposits made by individual depositors.

This guarantee provided a sense of security to the general public, as it meant that even if a bank failed, their deposits up to a certain amount would be insured by the government.

This change in banking regulations increased public confidence in the banking system and helped prevent bank runs, contributing to the stabilization of the economy during the Great Depression.

Learn more about the impact of the Federal Deposit Insurance Corporation on banking in the United States