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Federal Deposit Insurance Commission
The FDIC was created to provide government insurance for bank deposits, the creation of the FDIC increased public influence in the banking system. Even though banks are not required to have FDIC insurance, most of them do have FDIC insurance and that insurance protects your deposits up to $250,000! -
Federal Housing Authority
The Federal Housing Authority sets the standards for construction and underwriting and insures loans made by banks and other private lenders for home building. The goals of the FHA are to improve housing standards and conditions, provide a home financing system (mortgates) and to stabilize the mortgage market -
Gold Reserve Act
The Gold Reserve Act gave the government the ability to regulate the dollar to gold ratio and gave the governement the ability to change it as they pleased. -
Security and Exchange Commission
The SEC (Security and Exchange Commission) was created to stop fraud and regulate the stock market. The SEC has a 3 part mission, to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. This organization still completes these objectives today! -
National Labor Relations Board
The National Labor Relations Board, also called the Wagner Act, guaranteed workers the right ot unionize and bargain collectively. It also established the National Labor Relations Board (NLRB), which organized factory elections by secret ballot to determine whether workers wanted a union. The Wagner Act led to a burst of labor activity. -
Social Security Act
Probably one of the more important acts created during this time, the Social Security Act provided some financial security for older Americans, unemployed workers and others. The core benefit of Social Security was the monthly retirement benefit to be collected by people who stopped working at the age 65. -
Fair Labor Standards Act
The last major piece of the New Deal reform was the Fair Labor Standards Act, which abolished child labor, limited the workweek to 44 hours for most workers, and set the federal minimum wage at 25 cents an hour. Today this act still sets workplace regulations and minimum wages.
