Monday (2hr Early Out)-
Securities and Exchange Commision- Congress passed thee Acts (Securities Act of 1933, Exchange Act of 1934, and Public Utility Holding Company Act of 1935)- there was no controls on the issuing and trading of stocks. Established on June 6, 1934. Regulate the commerce in stocks, bonds, and other securities. Required public corporations to register their stock sales. It is still around today.
United States Housing Authority (USHA)- Prior to USHA, 1st New Deal Urban Housing Efforts were lead by Public Works. The director of the PWA was too frugal with funds so they made the USHA. There was political opposition to the housing. Wanted to keep even between the bigegr and smaller states. There was lots of red tape for building costs and needed local government participation. The success of USHA was limited, they built 150,000 houses, after 1939, the budget decreased. In 1942 it was transferred to the National Housing Administration, eventually superseded by Department of Housing and Urban Development.
Federal Housing Administration (FHA)- Started in June, 1934, created by Franklin Roosevelt. People needed homes that they couldn't buy with their own money. People that qualified or were capable were able to take out mortgage loans from the banks. Payment that they had to pay up front was too much, so they changed it so it was a low-down payment method. Repayment period was lengthened so it would be able to pay back mortgage. It was successful because it made it easier for the average American, although it lost several billion dollars to cover losses. 580 credit score today and easiest to qualify for guidelines/qualifications.
Tuesday (2hr Early Out)-
Indian Reorganization At (IRA)- Started on June 18th, 1934. It decreased the federal control over American Indian affairs, it gave Native Americans more responsibility and gave land back to them. It helped Native Americans and Alaskan Indians as well. It never ended, and many people that are not Native Americans want it to end because people think it helps people too targeted. It wasn't exactly that successful, and they found out they couldn't govern themselves all that well because they argued between tribes.
Home Owners' Loan Corporation (HOLC)- It began on June 13th, 1933, founded by President Roosevelt. It came from the Home Owners Loan Corporation Act. The government sponsored the corporation and was created under the New Deal program. Usually, borrowers required to make down payments averaging around 35 percent for loans lasting only five to ten years. Helped stabilize real estate that decreased during the Depression. Also helped refinance the mortgage debt people already had. It granted long-term mortgage loans to over 1 million homeowners facing the loss of their property. It ended on February 3rd, 1954, it ended because people still couldn't pay their mortgages. It helped anyone with problems paying their mortgages.
Wednesday/Thursday/Friday (No School)-
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