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Reconstruction Finance Corporation (RFC), former U.S. government agency, created in 1932 by the administration of Herbert Hoover. Its purpose was to facilitate economic activity by lending money in the depression.
The Emergency Banking Act was bolstered by pieces of legislation approved during Herbert Hoover's administration. The Reconstruction Finance Corporation Act, signed January 22, 1932, sought to provide aid for financial institutions and companies in danger of shutting down due to the Depression.