Learn about the FDIC’s mission, leadership, history, career opportunities, and more. Maximum work hours and minimum wages were also set in certain industries in 1938. Deposits up to $2500, a figure that would rise through the years, were henceforth 100% safe. Perhaps the most notable New Deal program still in effect is the national old-age pension system created by the Social Security Act (1935). The New Deal played a significant role in countering the Great Depression and revitalizing the U.S. economy. Create your own unique website with customizable templates. Updated April 07, 2020. Die Federal Deposit Insurance Corporation (FDIC) ist ein durch den Glass-Steagall Act von 1933 ins Leben gerufener Einlagensicherungsfonds der Vereinigten Staaten. The farm program was centred in the Agricultural Adjustment Administration (AAA), which attempted to raise prices by controlling the production of staple crops through cash subsidies to farmers. U.S. President Franklin D. Roosevelt’s New Deal (1933–39) aimed to provide immediate economic relief and to bring about reforms to stabilize the economy. It set up the National Recovery Adminstration and set prices, wages, work hours, and production for each industry. 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 practices. Get exclusive access to content from our 1768 First Edition with your subscription. The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions.The FDIC is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings banks. 1202. New Deal APUSH questions may test your knowledge on the effects of specific programs, or how Roosevelt’s policy changed the role of … Wages and salaries declined significantly, as did production. Roosevelt was sworn in March 4, 1933. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. Coronavirus (COVID-19) Information for Bankers and Consumers . The New Deal changed American political thinking because it was based on the principle that the-- federal government should attempt to solve social and economic problems What problems were both the Civilian Conservation Corps (CCC) and the Works Progress Administration (WPA) developed to address? The New Deal was a sweeping package of public works projects, federal regulations, and financial system reforms enacted by the United States federal government in an effort to help the nation survive and recover from the Great Depression of the 1930s. And the Glass-Steagall Act, only recently repealed with frightful consequences, separated commercial and investment banking. In 1950, federal deposit insurance was made mandatory for national commercial banks. 1934. The Soil Conservation Service remains as the Natural Resources Conservation Service. Franklin D. 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