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The Banking Act of 1933, which created the Federal Deposit Insurance Corporation, was signed by President Franklin Delano Roosevelt. Congress passed the Banking Act, which established the FDIC, in 1933.
stability since state bank notes were taxed out of existence immediately after the Civil War.â3 However, Friedman and Schwartz (pp. 421-2) simply review the provisions of the 3 The Banking Act of 1933, which included a provision for creating the Federal Deposit Insurance Corporation (FDIC), was passed on June 13, 1933. FDIC