Page history last edited by Mr. Hengsterman 4 years, 5 months ago

Glass-Steagall Banking Act, 1933

One of the most significant pieces of legislation passed under FDR. Separated commercial and investment banks. Increased the authority of the Federal Reserve to prevent major stock speculation in the future. Created FDIC – Federal Deposit Insurance Corporation – to insure all bank deposits so people didn’t lose money if a bank failed. Still used today!


Securities Exchange Act, 1934

Set up regulations on the purchase of stocks and bonds and the Securities and Exchange Commission to supervise the stock market. Gave the Federal Reserve the power to prevent “buying on margin.” Still a major US commission – they still control the stock market


Social Security Act, 1935

Federal program of benefits to people who retired at 65. Provided for benefits to dependent children based on wages earned by deceased parent,  unemployment compensation, provided money for states to cover maternity and child care,  money to assist the handicapped.   Money would come from a payroll tax paid by workers - still in use today


National Labor Relations Act, 1935

The National Labor Relations Act, NLRA, or Wagner Act (after its sponsor, New York Senator Robert F. Wagner) limits the means with which employers may react to workers who create labor unions  engage in collective bargaining, and take part in strikes and other forms of concerted activity in support of their demands.


The Act does not apply to workers who are covered by the Railway Labor Act, agricultural employees, domestic employees, supervisors, federal, state or local government workers, independent contractors and some close relatives of individual employers.


Under section 9(a) of the NLRA, federal courts have held that wildcat strikes are illegal, and that workers must formally request that the National Labor Relations Board end their association with their labor union if they feel that the union is not sufficiently supportive of them before they can legally go on strike.


Fair Labor Standards Act, 1938
Replaced codes set by the NIRA.  Established minimum wage and maximum hours, payment for overtime (time and ½), no child labor (15 yrs. And under) only non-hazardous jobs for those under 18.  Still the standards we use today

Comments (0)

You don't have permission to comment on this page.