Changes

The '''Federal Deposit Insurance Corporation''' (FDIC) is an agency which insures deposits in bank institutions in the event of [[money|financial]] failure.  Current policies insure the first $250,000 of deposits for an account holder. It was established during [[Franklin Delano Roosevelt]]'s [[New Deal]], through the Glass-Steagall Act of 1933.

The '''Federal Deposit Insurance Corporation''' (FDIC) is an agency which insures deposits in bank institutions in the event of [[money|financial]] failure.  Current policies insure the first $250,000 of deposits for an account holder. It was established during [[Franklin Delano Roosevelt]]'s [[New Deal]], through the Glass-Steagall Act of 1933.

Initially, the FDIC insured the first $2,500 in each deposit account.  In July 1934, the limit was raised to $5,000.  In 1969 the limit was raised to $20,000, and in 1974 it increased to $40,000.  In 1980, the limit was raised to $100,000.<ref>{{cite web|url=http://www.fdic.gov/news/news/speeches/archives/1997/sp23jan97.html|title=FDIC Symposium:History of the Eighties: Lessons for the Future|author=Ricki Helfer, FDIC Chairman|date=January 16, 1997|accessdate=October 22, 2012}}</ref>

Initially, the FDIC insured the first $2,500 in each deposit account.  In July 1934, the limit was raised to $5,000.  In 1969 the limit was raised to $20,000, and in 1974 it increased to $40,000.  In 1980, the limit was raised to $100,000<ref>{{cite web|url=http://www.fdic.gov/news/news/speeches/archives/1997/sp23jan97.html|title=FDIC Symposium:History of the Eighties: Lessons for the Future|author=Ricki Helfer, FDIC Chairman|date=January 16, 1997|accessdate=October 22, 2012}}</ref>; the current limit (set in 2011) is $250,000.

==See also==

==See also==