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Home Owners Loan Corporation (HOLC)
The HOLC helped out many homeowners who could not meet their mortgage payments by loaning them money. The money loaned had small interest rates so it would not accumulate a lot more debt for these homeowners. The HOLC changed the mortgage system, which is why it is still in effect today. -
Agricultural Adjustment Act (AAA)
The AAA aided farmers in crop production, it protected them from price drops by paying them to not grow as many crops. It also provided programs where they were taught methods on how to prevent soil erosion. The concept of the AAA is still in effect today, the government pays farmers not to grow crops. -
Federal Deposit Insurance Corporation (FDIC)
The FDIC federally insured bank deposits ($2500 per investor right away but then changed to up to $5000). This was used to prevent bank failures. This act is also known as the Glass-Stegall Act. The FDIC is still playing an important role in banks today to federally insure loans and bank deposits like it did when it was first created. -
Federal Housing Administration (FHA)
The FHA made it possible for more families to get homes. It insured loans for building and repairing homes, this way more people would live in better conditioned houses. It helped the standard of living, so people could live in modern homes now. The FHA set standards of construction on homes as well, the FHA is still in effect today. -
Works Progress Administration (WPA)
The WPA created many jobs quickly, it employed many workers in a wide variety of jobs ranging from construction workers to jobs involving theater and literary projects. The WPA was shut down on June 30, 1943, because of WWII starting. Most of the unemployed went to help fight in the war or help out with the war effort. -
Rural Electrification Administration (REA)
The REA made it possible and affordable for rural homes to get electricity. It encouraged farmers to cooperate to get electricity to farms. By 1940 only 40% of American farms had electricity though. In 1939 the REA was reorganized as a part of the U.S. Dept. of Agriculture, but later in 1994 the administration was abolished and the Rural Utilities Service took over. -
National Youth Administration (NYA)
This administration helped provide jobs for young unemployed people and it also helped needy students find part-time jobs to help pay for their schooling. The NYA lasted from June 1935 to September 1943. Many believed that the projects they were working on was a waste of taxpayer dollars. -
Wagner Act (NLRB)
The Wagner Act is also known as the National Labor Relations Board. It was created to settle disputes between employers and employees. This outlawed union busting tactics and made it so all workers were allowed to join unions. The National Labor Relations Board is still working hard today to protect the rights of employees, employers, and unions. -
Social Security Administration
The Social Security Act provided aid to the disabled, deaf, blind and to children that were living on their own. It also made it possible for the elderly to retire because it provided pension to them. This act was orginially made to provide for people who were out of work or unable to work. The Social Security Administration is still in effect today. -
Food, Drug and Cosmetic Act (FDC)
The FDC made it safer for consumers by requiring the manufacturers of food, drugs, and cosmetics to list the ingredients found in them. The FDC made it so there could not be any harmful ingredients in any of these products. The FDC is now called the FDA and is still in use in protecting these products.
