how did emergency relief act and the glass steagall act benefit the banks
The Emergency Banking Relief Act of 1933. At the height of the Great Depression, FDR took extreme measures to halt massive bank closures with the Emergency Banking Act of 1933. From the opening years of the Great Depression, Herbert Hoover had hoped for individual and private solutions for the economic difficulties faced by Americans.
The GlassâSteagall separation of commercial and investment banking was in four sections of the 1933 Banking Act (sections 16, 20, 21, and 32). The Banking Act of 1935 clarified the 1933 legislation and resolved inconsistencies in it. Together, they prevented commercial Federal Reserve member banks from: