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16 May, 22:42

Which federal agency insures savings deposits? A. The Consumer Product Safety Commission B. The Federal Deposit Insurance Corporation C. The Securities and Exchange Commission D. The Savings Deposit Agency

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  1. 16 May, 23:04
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    B. The Federal Deposit Insurance Corporation

    Explanation:

    The Federal Deposit Insurance Corporation (FDIC) -

    It is the independent federal agency, which insures the deposits in the U. S. banks.

    FDIC, was formed in the year 1933, in order to maintain the confidence of the public and to encourage the stability of the financial system via the promotion of the sound banking practice.

    Hence, the federal agency insures the savings deposits in FDIC.
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