The Teapot Dome Scandal was the corruption scandal that plagued the Harding Administration.
In short, the Secretary of the Interior was giving away oil drilling sites that were being held as Naval reserves (to ensure adequate fuel for Naval ships) in the Dakotas without a competitive bidding process in return for bribes.
The impact on the American public was a loss of faith in their Government as Secretary Fall was the first Cabinet member to go to prison.