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What major financial reform act increased the FDIC insurance limit to $250,000 per ownership category?
Sarbanes-Oxley Act
Dodd-Frank Wall Street Reform and Consumer Protection Act
Gramm-Leach-Bliley Act
Emergency Economic Stabilization Act
Answer
The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in 2010, increased the FDIC insurance limit to $250,000 per ownership category. This act aimed to strengthen financial regulations and consumer protections in response to the 2008 financial crisis.
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