In this episode, we take a comprehensive look at the Federal Deposit Insurance Corporation (FDIC), the U.S. government corporation created by the Banking Act of 1933 to restore trust in the American banking system during the Great Depression. We break down exactly how the FDIC protects your money, currently insuring up to $250,000 per ownership category, and clarify which assets are covered—such as checking accounts, savings, and CDs—versus those that are not, like stocks, mutual funds, and safe deposit boxes.

Tune in to learn how the FDIC is funded through member bank premiums rather than public tax funds and how it manages the "Resolution" process when a bank becomes insolvent. We also explore the agency's historical impact, from stabilizing the banking sector after the Panics of the early 20th century to managing the Savings and Loan crisis of the 1980s and the 2008 financial crisis.