5
QuizMultiple Choice

Banking Regulation

Question 5 • (AG Q4) Financial Literacy: 25-26 (JRush)

The FDIC was established by the _____.

Answer
A
Federal Reserve Act
B
National Currency and Banks Act
C
Federal Deposit Improvement Act
D
Banking Act

Explanation

The FDIC was created by the Banking Act of 1933, also known as the Glass-Steagall Act. It was established to insure bank deposits and help restore public confidence in the banking system, so the correct choice is the Banking Act.

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