The Federal Deposit Insurance Corporation and the Securities and Exchange Commission were agencies created during the Great Depression, a time when almost two-thirds of U.S. banks had collapsed and massive losses to bank costumers had occurred. Franklin D. Roosevelt created both agencies, as part of his New Deal program, to provide stability to the U.S.'s economy and strengthen consumer confidence in the banking system and in financial practices.
The FDIC was made to regulate banking practices and give insurance of bank deposits in certain banks, in case that a bank failed, and the SEC was established to protect investors from dangerous or illegal financial practices or fraud, by overseeing securities transactions, activities of financial professionals and mutual fund trading.
