One New Deal program aimed to protect citizens by establishing the Federal Deposit Insurance Corporation. In what way does the FDIC protect citizens?

The Federal Deposit Insurance Corporation (FDIC) protects citizens by insuring deposits in member banks, ensuring that depositors do not lose their savings in the event of a bank failure. Each depositor is covered up to $250,000 per insured bank, which helps to maintain public confidence in the financial system. This insurance promotes stability in the banking sector and encourages individuals to save, knowing their funds are safeguarded.