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Franklin D. Roosevelt established the FDIC under the Glass-Steagall Act June 16, 1933, as part of the reform portion of the New Deal legislation.

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16y ago
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1y ago

The FDIC (Federal Deposit Insurance Corporation) was established by President Franklin D. Roosevelt in 1933 as part of the New Deal. Its purpose is to provide deposit insurance and maintain stability in the banking system by insuring deposits in member banks.

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Q: Which US President established the FDIC?
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