The FDIC â¦ Other such programs include the Securities and Exchange Commission (SEC), the Federal Housing Administration (FHA), the Farm Credit Administration, and the Federal Communications Commission (FCC). What was the purpose of the Glass-Steagall Act of 1933 in establishing in the Federal Deposit Insurance Corporation (FDIC)? The purpose of the FDIC was too insure safety for the public when they trusted their money to banks. As a part of the banking reform under the FDR new deal, as we discussed yesterday, the Glass-Steagall act limited commercial bank securities activity and regulated speculation. 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. Support Living New Deal Join Our E-Mailing List Federal Emergency Relief Act (1933) The FERA was created on May 12, 1933, by the Federal Emergency Relief Act of 1933, and President Roosevelt chose Harry Hopkins to be the administrator . What was the purpose of the FDIC New Deal program? Learn vocabulary, terms, and more with flashcards, games, and other study tools. Federal Deposit Insurance Corporation, The Federal Deposit Insurance Corporation (FDIC) was created on June 16, 1933, under the authority of the Federal Reserve Act, section 12B (12 U.S.C.â¦ Financial disclosure, BANKING This entry includes 9 subentries: Overview Bank Failures Banking Acts of 1933 and 1935 Banking Crisis of 1933 Export-Import Banks Investmentâ¦ The New Deal was a series of programs and projects instituted during the Great Depression by President Franklin D. Roosevelt that aimed to restore prosperity to Americans. The Federal Deposit Insurance Corporation (FDIC) was put in place as a temporary government program by FDR as part of the Emergency Banking Relief Act. Banking Relief: When Franklin Roosevelt promised the American people a "new deal," he focused on â¦ FDR New Deal Programs Fact 7: The June 1933 Federal Deposit Insurance Corporation (FDIC) restored confidence in the banks and insured bank customers against the loss of up to $5,000 of their deposits if their bank should collapse. Start studying The New Deal-FDIC. The Federal Deposit Insurance Corporation (FDIC) in banking and Fannie Mae (FNMA) in mortgage lending are among New Deal programs still in operation. Start a free trial of Quizlet Plus by Thanksgiving | Lock in 50% off all year Try it free It also established the Federal Deposit Insurance Corporation which insured every banking deposit in the US with up to $2,500. Several New Deal programs remain active with some still operating under the original names, including the: Federal Deposit Insurance Corporation (FDIC), the Federal Housing Administration (FHA), and the Tennessee Valley Authority (TVA). to reassure people that their money was safe in banks The most consequential opposition to New Deal programs came from __________ in the mid-1930s.