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How did many banks fail consumers in the stock market crash of 1929?
Banks had invested customer savings in the stock market, losing depositors' money in the crash.
Banks refused to pass on profits made in the stock market to depositors, keeping the money.
Banks refused to issue loans to help investors pay for their financial losses in the crash.
Banks only paid a small portion of insurance owed to depositors for their financial losses.

Respuesta :

A) Banks had invested customer savings in the stock market, losing depositors’ money in the crash.

Explanation: Just took the quiz and got it right :)

Banks fail consumers in the stock market crash of 1929 as Banks had invested customer savings in the stock market, losing depositors' money in the crash. Thus, option (a) is correct.

What is Bank?

The daily flow of money cycle is a word used in finance that the bank uses. The bank gives interest on deposits made into accounts. People also pay interest when they borrow money from a bank.

The American economy was severely damaged by the stock market fall since corporations had also invested in equities in addition to individual investors. Businesses suffered losses as a result of the stock market collapse.

Therefore, option (a) is correct.

Learn more about banks, here:

https://brainly.com/question/14042269

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