The Federal Deposit Insurance Corporation (FDIC) recommended on September 30, 2008, that Congress temporarily raise the amount of bank deposits insured by the government from $100,000. The same day that the FDIC made the request, candidates Barack Obama and John McCain urged the FDIC to increase the insured deposit limit to $250,000.
is first republic bank fdic insured(0 Answers)
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References
Fast Facts
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Fact:
FDIC typically insures deposits up to $100,000
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Fact:
FDIC wants limit raised
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Fact:
Barack Obama and John McCain want limit temporarily raised to $250,000
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Fact:
FDIC founded as part of Franklin D. Roosevelt's New Deal package in 1933
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Fact:
FDIC made "bank runs" much less common because deposits were insured
