What government corporation provides deposit insurance to protect bank deposits?

The Federal Deposit Insurance Corporation (FDIC) is the government corporation responsible for providing deposit insurance to protect depositors in case of bank failures. Established in 1933 during the Great Depression, the FDIC plays a crucial role in maintaining public confidence in the U.S. financial system. It insures deposits at banks and savings associations, currently up to $250,000 per depositor, per insured bank for each account ownership category. This insurance helps safeguard consumers’ money, promotes stability, and prevents bank runs by assuring depositors that their funds are secure.

In contrast, the other options represent different government entities with distinct functions. The Federal Bureau of Investigation primarily focuses on law enforcement and national security, while the National Security Agency is tasked with signals intelligence and information assurance. The Department of Treasury oversees economic policy and financial regulation but does not specifically provide deposit insurance.