The Emergency Banking Relief Act was a New Deal policy that saw the federal government take direct responsibility for its citizens' economic well-being for the first time.
The Emergency banking relief act
The Emergency Banking Relief act gave the federal government the power to oversee and manage portions of the financial industry, as well as provide loans to failing banks.
During the Great Depression, President Franklin D. Roosevelt initiated a new deal program that aimed at restoring American prosperity. The Farm Credit System provides short-, intermediate-, and long-term loans for agricultural uses.
The National Credit Union Administration provides deposit insurance to depositors in American depository institutions. The Social Security Act provides a steady income to retirees aged [tex]65[/tex].
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