Three New Deal programs still in existence today are the Federal Deposit and Insurance Corporation (or FDIC), Securities and Exchange Commission (or SEC), and Social Security. Franklin D. Roosevelt created the New Deal program in 1933, after becoming President of the United States, to lead the nation out of the economic depression of the late 1920s. The New Deal program included a variety of programs and incentives designed to stimulate and revitalize the American economy and help Americans with employment, payments and other financial matters.
Although some New Deal programs eventually terminated, others remained. Americans use some, such as Social Security and the FDIC, on a daily basis. The FDIC controls personal finances for many Americans. The FDIC provides financial insurance to banks and lending institutions to encourage citizens to set up bank accounts and make deposits. The FDIC protects bank accounts up to $100,000. By offering financial insurance, the FDIC allows banks to loan and lend money with confidence, which encourages the movement of money through the economy. Similarly, the SEC protects investors and helps with long-term economic stability by creating transparency in the federal economic system. The SEC requires the disclosure of certain information by public companies to help investors, brokers and others determine whether or not to make financial investments in those companies.