After FDR was elected, he immediately declared a bank holiday. For four days, all transactions across the country were denied other than making change. It was during this holiday that Roosevelt developed the Emergency Banking Act, the first of fifteen major laws enacted within FDR's first "hundred days" in office. Shortly after came the Federal Deposit Insurance Corporation (FDIC): a system that guaranteed the federal government would refund any person's lost money if their insured bank were to fail.
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The most famous result of the New Deal was the Social Security Act (SSA) in 1935. This led to old-age pensions and unemployment compensation, along with federal financial support to those who needed it: dependent children, the handicapped, as well as the blind.
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