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FDIC
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking Act Of 1933
The Banking Act of 1933 () was a statute enacted by the United States Congress that established the Federal Deposit Insurance Corporation (FDIC) and imposed various other banking reforms. The entire law is often referred to as the Glass–Steagall Act, after its Congressional sponsors, Senator Carter Glass ( D) of Virginia, and Representative Henry B. Steagall (D) of Alabama. The term "Glass–Steagall Act," however, is most often used to refer to four provisions of the Banking Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms. That limited meaning of the term is described in the article on Glass–Steagall Legislation. The Banking Act of 1933 (the 1933 Banking Act) joined together two long-standing Congressional projects: #A federal system of bank deposit insurance championed by Representative Steagall #The regulation (or prohibition) of the combination of commercial and investment banking and other ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dodd–Frank Wall Street Reform And Consumer Protection Act
The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal law that was enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the Great Recession, and it made changes affecting all federal financial regulatory agencies and almost every part of the nation's financial services industry. Responding to widespread calls for changes to the financial regulatory system, in June 2009, President Barack Obama introduced a proposal for a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression". Legislation based on his proposal was introduced in the United States House of Representatives by Congressman Barney Frank (D-MA) and in the United States Senate by Senator Chris Dodd (D-CT). Most congressional support for Dodd–Frank came from members of the Democratic Party; three Senate Republic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit Insurance
Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability. Overview Banks are allowed (and usually encouraged) to lend or invest most of the money deposited with them instead of safe-keeping the full amounts (see fractional-reserve banking). If many of a bank's borrowers fail to repay their loans when due, the bank's creditors, including its depositors, risk loss. Because they rely on customer deposits that can be withdrawn on little or no notice, banks in financial trouble are prone to bank runs, where depositors seek to withdraw funds quickly ahead of a possible bank insolvency. Because banking institution failures have the potential to trigger a broad spectrum of harmful events, including economic recessions, policy makers mainta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leo Crowley
Leo Thomas Crowley (August 15, 1889 – April 15, 1972) was a senior administrator for President Franklin D. Roosevelt as the head of the Foreign Economic Administration. Previously he had served as Alien Property Custodian and as chief of the Federal Deposit Insurance Corporation. Late in the 1930s, senior Washington officials discovered that Crowley had embezzled from his banks in Wisconsin in the 1920s and early 1930s. They covered it up. Biographer Stuart Weiss says, Crowley's is: :the darker story of the businessman as speculator and embezzler, whose fraud was covered up in Wisconsin and Washington.... n part it isthe morally complex and compelling story of Crowley as a bureaucrat and politician in Washington, administering multiple major agencies, often simultaneously;...but also deeply involved in conflicts of interest a later generation would find unacceptable and even incomprehensible. Early life Leo Crowley was born to Thomas and Katie Crowley in Milton, Wisconsin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Runs
A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvent; they keep the cash or transfer it into other assets, such as government bonds, precious metals or gemstones. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprises Of The United States
United States federal government chartered and owned corporations are a separate set of corporations chartered and owned by the federal government, which operate to provide public services, but unlike the federal agencies (e.g., the Environmental Protection Agency, the Bureau of Indian Affairs, etc.), or the federal independent commissions (e.g., the Federal Communications Commission, the Nuclear Regulatory Commission, etc.), they have a separate legal personality from the federal government, providing the highest level of political independence. They sometimes receive federal budgetary appropriations, but some also have independent sources of revenue. Federal-government-acquired corporations The ''federal-government-acquired corporations'' are a separate set of corporations that were originally chartered and created by an entity other than the U.S. federal government, but that were, at some point, nationalised by the federal government. Most of these are corporations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision of Credit (finance), credit, and other financial services. In several African countries, credit unions are commonly referred to as SACCOs (Savings and Credit Co-Operative Societies). Worldwide, credit union systems vary significantly in their total assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with hundreds of thousands of members and assets worth billions of US dollars. In 2018, the number of members in credit unions worldwide was 274 million, with nearly 40 million members having been added since 2016. Leading up to the financial crisis of 2007–2008, commercial banks engaged in approximately five times more subprime lending relative t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William B
William is a male given name of Germanic origin.Hanks, Hardcastle and Hodges, ''Oxford Dictionary of First Names'', Oxford University Press, 2nd edition, , p. 276. It became very popular in the English language after the Norman conquest of England in 1066,All Things William"Meaning & Origin of the Name"/ref> and remained so throughout the Middle Ages and into the modern era. It is sometimes abbreviated "Wm." Shortened familiar versions in English include Will, Wills, Willy, Willie, Bill, and Billy. A common Irish form is Liam. Scottish diminutives include Wull, Willie or Wullie (as in Oor Wullie or the play ''Douglas''). Female forms are Willa, Willemina, Wilma and Wilhelmina. Etymology William is related to the given name ''Wilhelm'' (cf. Proto-Germanic ᚹᛁᛚᛃᚨᚺᛖᛚᛗᚨᛉ, ''*Wiljahelmaz'' > German ''Wilhelm'' and Old Norse ᚢᛁᛚᛋᛅᚼᛅᛚᛘᛅᛋ, ''Vilhjálmr''). By regular sound changes, the native, inherited English form of the name should b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Camp William
Camp may refer to: Outdoor accommodation and recreation * Campsite or campground, a recreational outdoor sleeping and eating site * a temporary settlement for nomads * Camp, a term used in New England, Northern Ontario and New Brunswick to describe a cottage * Military camp * Summer camp, typically organized for groups of children or youth * Tent city, a housing facility often occupied by homeless people or protesters Areas of imprisonment or confinement * Concentration camp * Extermination camp * Federal prison camp, a minimum-security United States federal prison facility * Internment camp, also called a concentration camp, resettlement camp, relocation camp, or detention camp * Labor camp * Prisoner-of-war camp ** Parole camp guards its own soldiers as prisoners of war Gatherings of people * Camp, a mining community * Camp, a term commonly used in the titles of technology-related unconferences * Camp meeting, a Christian gathering which originated in 19th-century America ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gidney Ray ''.
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Gidney is a surname. Notable people with the surname include: *Brian Gidney (1938–2019), English cricketer *Craig Laurance Gidney, American novelist and writer *Dirk Gidney (born 1952), Canadian rower *Francis Gidney (1890–1928), leader of the Scouting movement in the United Kingdom *Sir Henry Gidney (1873–1942), English research scholar and a lecturer in ophthalmology *Herbert Gidney (1881–1963), American athlete See also *Gidney was also the name of one of the Moon Men on the American animated television program ''Rocky and Bullwinkle ''The Adventures of Rocky and Bullwinkle and Friends'' (commonly referred to as simply ''Rocky and Bullwinkle'') is an American animated television series that originally aired from November 19, 1959, to June 27, 1964, on the ABC and NBC tele ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Smith James
Smith may refer to: People * Metalsmith, or simply smith, a craftsman fashioning tools or works of art out of various metals * Smith (given name) * Smith (surname), a family name originating in England, Scotland and Ireland ** List of people with surname Smith * Smith (artist) (born 1985), French visual artist Arts and entertainment * Smith (band), an American rock band 1969–1971 * ''Smith'' (EP), by Tokyo Police Club, 2007 * ''Smith'' (play), a 1909 play by W. Somerset Maugham * ''Smith'' (1917 film), a British silent film based on the play * ''Smith'' (1939 film), a short film * ''Smith!'', a 1969 Disney Western film * ''Smith'' (TV series), a 2006 American drama * ''Smith'', a 1932 novel by Warwick Deeping * ''Smith'', a 1967 novel by Leon Garfield and a 1970 TV adaptation Places North America * Smith, Indiana, U.S. * Smith, Kentucky, U.S. * Smith, Nevada, U.S. * Smith, South Carolina, U.S. * Smith Village, Oklahoma, U.S. * Smith Park (Middletown, Connecti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
