How did the Great Depression affect banks?

How did the Great Depression affect banks? Deflation increased the real burden of debt and left many firms and households with too little income to repay their loans. Bankruptcies and defaults increased, which caused thousands of banks to fail. In each year from 1930 to 1933, more than 1,000 U.S. banks closed. How many banks … Continue reading How did the Great Depression affect banks?