The Reconstruction Finance Corporation created in 1932

Question

Quizplus · Accepted Answer

The Reconstruction Finance Corporation (RFC) was created in 1932 to provide loans to struggling banks and corporations in order to help stimulate economic recovery during the Great Depression. It did not offer relief payments to the unemployed or low-interest loans to home buyers. While it did provide some relief to American farmers, that was not its primary purpose. The RFC was not abolished by the Roosevelt administration; in fact, it continued to operate under different names and with expanded responsibilities even after the end of the Great Depression.

The Reconstruction Finance Corporation Created in 1932