Title: 7 New Deal Programs Still in Effect Today
Headings: 7 New Deal Programs Still in Effect Today
7 New Deal Programs Still in Effect Today
Federal Deposit Insurance Corporation
Federal National Mortgage Association (Fannie Mae)
National Labor Relations Board
Securities and Exchange Commission
Social Security
Soil Conservation Service
Tennessee Valley Authority
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Content: FDR's New Deal was a series of federal programs launched to reverse the nation's decline. New Deal programs put people back to work, helped banks rebuild their capital, and restored the country's economic health. While most New Deal programs ended as the U.S. entered World War II, a few still survive. 01
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Federal Deposit Insurance Corporation
The FDIC insures bank deposits, protecting customers from bank failures. Getty Images / Corbis Historical / James Leynse
Between 1930 and 1933, nearly 9,000 U.S. banks collapsed. 1 ﻿ American depositors lost $1.3 billion dollars in savings. 2 ﻿ This wasn't the first time Americans had lost their savings during economic downturns, and bank failures occurred repeatedly in the 19th century. President Roosevelt saw an opportunity to end the uncertainty in the American banking system, so depositors wouldn't suffer such catastrophic losses in the future. The Banking Act of 1933, also known as the Glass-Steagall Act, separated commercial banking from investment banking​ and regulated them differently. The legislation also established the Federal Deposit Insurance Corporation (FDIC) as an independent agency.