Which U.S. president signed the 1933 law that created federal deposit insurance after the stock-market crash?

Franklin D. Roosevelt signed the 1933 law that created federal deposit insurance after the stock-market crash.

The Banking Act of 1933, also known as the Glass–Steagall Act, became law during Roosevelt's first term. It created the Federal Deposit Insurance Corporation, which began insuring eligible bank deposits and aimed to restore public confidence after widespread bank failures.

The measure followed the 1929 crash and the severe economic contraction of the Great Depression. Thousands of U.S. banks had failed, and depositors often lost money when institutions collapsed. Deposit insurance changed the relationship between ordinary savers and banks by providing a government-backed guarantee within statutory limits.

The act also separated commercial banking from investment banking and introduced other banking reforms. Congress later repealed the Glass–Steagall separation provisions in 1999, although the FDIC continued. Deposit insurance did not prevent every future financial crisis, but it reduced the risk of bank runs driven by panic among small depositors.