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This program was set up to insure bank deposits

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Federal Deposit Insurance Corporation
User Canastro
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Answer:

Federal Deposit Insurance Corporation (FDIC), independent U.S. government corporation created under authority of the Banking Act of 1933 (also known as the Glass-Steagall Act), with the responsibility to insure bank deposits in eligible banks against loss in the event of a bank failure and to regulate certain banking.

User Lyubomyr Dutko
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