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(First New Deal) The FCA helped struggling farmers refinance their mortgages during the Great Depression. By providing low-interest loans and extending credit, it prevented farm foreclosures and stabilized rural areas. This program ensured farmers could keep their land and continue producing crops to feed the nation. -
(First New Deal) The HOLC helped homeowners who were at risk of losing their homes by refinancing their mortgages with longer repayment terms and lower interest rates. It saved many families from having to leave their homes, and helped restore stability to the housing market during the Great Depression. -
(Second New Deal) The Act changed the structure and power distribution in the Federal Reserve System. The law created the modern structure of the Federal Reserve and placed monetary-policy decisions beyond Presidential control. It was enacted in response to the financial crises and bank failures during the Great Depression. The Act effectively separated commercial banking from investment banking and established the Federal Deposit Insurance Corporation (FDIC). -
(First New Deal) The FHA was designed to boost the housing industry by insuring home loans made by banks. It made buying and repairing homes more affordable, set national standards for home construction, and helped revive the construction sector, creating more jobs and promoting economic growth. -
(First New Deal) The SEC created a regulatory agency for the stock market to regulate the U.S. securities industry and protect investors. It enforced laws to prevent insider trading and fraud, required companies to provide truthful information to investors, and aimed to make the financial system more transparent and stable. -
(Second New Deal) For the WPA, Congress appropriated $5 billion to employ unemployed people until the economy recovered. This established a national work relief program through large-scale public works projects, and employed more than 8 million people. The WPA also provided work relief and education for Americans 16-25 years old with the National Youth Administration. -
(Second New Deal) The National Labor Organization Act guaranteed the right to join and form an independent labor union and collective bargaining. It also founded the National Labor Relations Board (NLRB) to protect the rights of employees. It is often described as the “Magna Carta for labor.” -
(Second New Deal) The Social Security Act created a fund to provide for old-age pensions, disabilities, and unemployment compensation. Additionally, it is funded by a payroll tax on workers and employers. It was administered by the Social Security Administration through state-federal cooperation. -
(First New Deal) The U.S. Housing Authority was created in 1937 to provide low-cost public housing. The USHA was concerned primarily with assisting states and localities in providing low-rent housing and eliminating slums. -
(Second New Deal) The FLSA established child labor laws and a right to a minimum wage. It also guaranteed overtime pay for a time and a half for over 40 hours a week.