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Bank of the US
Was a charter from congress and signed by president Washington. This bank only collected fees and made payments for the federal governmnet. However the bank failed because the state banks opposed it too much because htey feared the power it gave to the national governmnet -
Second Bank of the US
was chartered like the first bank and it failed because it diddn't regulate the state banks or charter any other bank so its power was never consolidated and it failed. (before this it had more duties than the first bank but was not on the same level as the current bank.) -
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Civil War Printing Money
The first time money was printed in the US by the Federal Government and it started during the Civil war because it was a time of unrest and much of the money was promisary notes for valubles turned in. Among other things -
printing of money during civil war
The first time money was printed in the US by the Federal Government and it started during the Civil war because it was a time of unrest and much of the money was promisary notes for -
National Banking Act
Created dual banking which means that a bank could have either a state or federal charter. Each had their own benifits. -
Federal Reserve Act
Established the National Bank that we are all used too. IT also set up the federal reserve system wich is the banking system we use in the US. -
Great depression regarding banking
It caused many baks to collapse because so many people were pulling their money out of the banks. FDR the president durring that time had to issue a "bank holiday" were banks close untill they proved they were financially stable and then they could be reopened. (this occured during the whole 1930's untill the banks were set back to rights. -
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The great depression
It caused many baks to collapse because so many people were pulling their money out of the banks. FDR the president durring that time had to issue a "bank holiday" were banks close untill they proved they were financially stable and then they could be reopened. (this occured during the whole 1930's untill the banks were set back to rights. -
Glass-Steagall Banking Act
This Act established the Federal Deposit Insurance Corporation that handles and makes sure that if your bank goes under you dont loose all your money. It provides you with any moey lost back up to certain number for each account. -
1970 in regard to banking
During this time period Congress relaxed their restrictions on banks. This led to some problems and would lead to even more in the coming years. -
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The 1970's in regards to banking
During this time period Congress relaxed their restrictions on banks. This led to some problems and would lead to even more in the coming years. -
Banking in 1982
During this year congress allowed S&L banks to make high risk loans and this backfired when many investments went bad and a lot of banks failed. This forced the Federal Governmnet to have to pay back investors almost 200 billion. and led to the FDIC taking over the S&L. -
Gramm-Leach-Billey Act
It allowed banks to have more control over banking, insurance, and securities. This was all good but it had some cons for the consumer including less compition between banks and more sharing of personal information.
