Federal Deposit Insurance Corporation (FDIC) 1934
The Federal Deposit Insurance Corporation (FDIC) was formed by Congress to insure deposits up to $2500. Insured institutions are required to place signs at their place of business stating that "deposits are backed by the full faith and credit of the United States Government." Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds as a result of a failure.