Act Ch01 L02 Short is to short is tooo short is to sh PDF

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Summary

In this activity, you will investigate the history of the credit industry in America and evaluate the effects of that history on today's consumer credit industry. You will analyze the cause and effect relationship between the Great Depression and the New Deal, research New Deal policies, and synthes...

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History of Credit in America CHAPTER 1, LESSON 2

NAME

DATE

DIRECTIONS Follow the instructions for each section below.

HISTORY 1. Write a paragraph summarizing the history of credit and debt in America.

RECALL 2. What legislative program established during the Great Depression helped shape consumer lending policies and convinced commercial banks that consumer credit could be a profitable industry? How was the program intended to help consumers?

EXPLAIN 3. Explain why using credit to buy products and services wasn’t common before 1920.

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History of Credit in America CHAPTER 1, LESSON 2

DRAW CONCLUSIONS 4. What was the major financial difference between post-World War II borrowers and borrowers after 1970?

CAUSE AND EFFECT 5. What effects did the government response to the Great Depression have on the credit industry?

6. What effect did the post-war era have on consumer borrowing habits?

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History of Credit in America CHAPTER 1, LESSON 2

RESEARCH 7. Conduct research on and write summaries for the following New Deal policies. Remember: » Be sure to use three reputable, reliable, and recent sources in your research. » The focus of your research is to summarize the purpose of each policy. » Your research should also evaluate the common focus of each agency. FEDERAL DEPOSIT HOME OWNERS’ FEDERAL HOUSING INSURANCE LOAN CORPORATION ADMINISTRATION CORPORATION (FDIC) (HOLC) (FHA)

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ELECTRIC HOME AND FARM AUTHORITY (EHFA)

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