  The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass-Steagall Act of 1933. It provides deposit insurance which … guarantees the safety of checking and savings deposits in member banks, currently up to $100,000 per depositor per bank.he New Deal was a set of economic programs, passed by Congress during President Roosevelt's first term, 1933-1937, in response to the Great Depression.