FDR and the Banking Panics
FDR's New Deal Reforms-
FDR created many New Deal reforms to alleviate some of the problems the Great Depression caused.
1. FDIC (Federal Deposit Insurance Corporation): The FDIC resolved some of the issues brought by the banking panics by making it able for people to have confidence in their banks. The FDIC helped rural residents because they knew their money was insured in the banks and if any bank went out of business, the FDIC would reimburse its depositors.
FDR created many New Deal reforms to alleviate some of the problems the Great Depression caused.
1. FDIC (Federal Deposit Insurance Corporation): The FDIC resolved some of the issues brought by the banking panics by making it able for people to have confidence in their banks. The FDIC helped rural residents because they knew their money was insured in the banks and if any bank went out of business, the FDIC would reimburse its depositors.