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In which year was the Banking Act enacted, leading to the creation of the FDIC?

  • 1929

  • 1930

  • 1933

  • 1935

Answer

The Banking Act of 1933 was enacted during the Great Depression to restore trust in the American banking system. This act led to the creation of the Federal Deposit Insurance Corporation (FDIC) to provide deposit insurance to depositors in American commercial banks and savings banks.
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