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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 RFC (Reconstruction Finance Corporation) was established by Congress in 1932. It was Hoover's desire to have the RFC lend money to banks, railroads, and other key economic â¦ institutions to make sure these institutions would remain in business. The idea was to help these businesses that had a shortage of capital.