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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.
1933 Banking Act. The Banking Act of 1933 (Pub.L. 73â66, 48 Stat. 162, enacted June 16, 1933) was a statute enacted by the United States Congress that established the Federal Deposit Insurance Corporation (FDIC) and imposed various other banking reforms.