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The Hundred Days
During the Hundred Days, Congress passed 15 major acts to resolve the economic crisis. These programs came to be known as the First New Deal -
The Emergency Banking Relief Act
This act required federal examiners to survey the nation's banks and issue Treasury Department licenses to those who were financially stable. -
Home Owners' Loan Corporation
This bought the mortgages of home owners who were behind in their payments. Then, it restructured the loans with longer repayment terms and lower interest rates. -
The Federal Deposit Insurance Corporation
It provided government insurance for bank deposits. It also increased public confidence in the banking system. -
The Securities and Exchange Commision
This was created to regulate the stock market and stop fraud. -
The National Labor Relations Board
It organized factory elections by secret ballot to determine whether workers wanted a union.They could also investigate employers' actions and stop unfair prices. -
The Social Security Act
It provided some financial security for older Americans, unemployed workers, and others. We still use this today. -
United States Housing Authority
This organization received $500 million to subsidize loans to builders willing to construct low-cost housing.