What does Banking Act of 1933 mean?

Banking Act of 1933 meaning in Law Dictionary

This work established the Federal Depository Insurance Corporation (FDIc) that regulates banking plan and insurance policy on reports of deposit in banking institutions and thrift institutions.

Banking Act of 1933 meaning in Business Dictionary

Legislation that provided for legislation for the banking business and insurance on account resources deposited finance companies and thrift institutions, through the organization of Federal Depository Insurance Corporation (FDIC). Also known as the Glass-Steagall Act.