How did the creation of the federal deposit insurance corporation change the nature of banking in the united states

Federal Deposit Insurance Corporation (FDIC) was established after the collapse of many American banks during the early years of the Great Depression. It was created under authority of the Banking Act of 1933  with the responsibility to insure bank deposits in eligible banks against loss in the event of a bank failure and to regulate certain banking practices. So that, it restored trust in the American banking system.

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