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How did loan defaults during the Great Depression affect banks? Banks could not claim collateral from people borrowing money. Banks stayed open by selling property to raise money. Banks were unable to
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32 votes
32 votes
How did loan defaults during the Great Depression affect banks?

Banks could not claim collateral from people borrowing money.
Banks stayed open by selling property to raise money.
Banks were unable to collect money they had loaned to people.
Banks helped people keep their property by giving out more loans.

User Triet Doan
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1 Answer

16 votes
16 votes

Answer:

Banks were unable to collect money they had loaned to people.

User Rudy Hinojosa
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