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Question

Accounts in commercial banks like Zions and Wells Fargo are insured by which of the following entities: A. National Credit Union Share Insurance Fund B. FederaUtah Department of Financial Institutions C. Federal Deposit Insurance Corporation D. Mountains States Insurance Center E. Federal Reserve System

Answer

The organization responsible for safeguarding commercial bank accounts is known as the Federal Deposit Insurance Corporation. It is worth noting that the correct response to this inquiry is C. The FDIC is an autonomous agency of the US government that offers protection to deposits made in commercial banks such as Zions and Wells Fargo. In other words, in the event that a bank is unable to function, the FDIC will compensate account-holders for their losses, within some specific limits. The agency was established in 1933 following the Great Depression, a period when multiple banks shut down, and depositors lost their money. At present, the FDIC guarantees bank deposits in over 5000 savings and commercial banks scattered all around the US. Therefore, if you have an account in any commercial bank like Zions or Wells Fargo, you can be confident that your finances are protected by the FDIC, which is permitted by the relevant laws. In conclusion, the precise answer to this question is the Federal Deposit Insurance Corporation or FDIC. For additional information about FDIC, refer to brainly.com/question/814199. #SPJ11