What the FDIC Does to Protect Deposits When Banks Fail The FDIC was created from the Banking Act of 1933 to prevent the bank runs seen during the Great Depression. The Federal Deposit Insurance Corporation is doing what it was designed to do when banks like Silicon Valley and Signature Banks go under: cover insured deposits. Here’s how the FDIC works and why it was created. | Duncan Oil | Facebook
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The FDIC was created by congress to insure your deposits. Ally Bank is FDIC insured, so that means your money is insured up to $250,000 per depositor for each qualifying account ownership category 💪 Learn more about Ally! | Ally
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