You may know that the funds in your checking and savings accounts are insured by the FDIC, but you may not know about the agency's history and purpose. The FDIC was founded in 1933 after the stock ...

Early opponents included Roosevelt himself. As the FDIC's internal history states, the president and his allies "believed a system of deposit insurance would be unduly expensive and would unfairly ...

After all, they were, respectively, the second and third largest bank failures in U.S. history. The largest one happened when the FDIC seized control of Washington Mutual Bank in September 2008.

As of December 2022, there were more than 4,700 FDIC-insured financial institutions. Washington Mutual was the biggest bank failure in U.S. history. It collapsed in September 2008 during the ...