The purpose of the Reconstruction Finance Corporation created by Congress in 1932 was to

A) locate loans abroad.
B) lend money to struggling banks and companies
C) begin the process of nationalizing major industries.
D) finance major public works to employ idle Americans.

Reconstruction Finance Corporation

A government agency established in 1932 in the United States to provide financial support to banks, industries, and other institutions to stimulate economic recovery.

Struggling Banks

Financial institutions experiencing significant challenges such as liquidity issues, insolvency, or failure to meet regulatory requirements.

Congress 1932

Refers to the 72nd United States Congress, notable for its enactment of significant legislation during the Great Depression under President Franklin D. Roosevelt's New Deal.