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Changes in the Banking Industry-US
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1791 Bank of the US
This bank was the first bank of the United States. It was a central bank and it was chartered for a term of twenty years.The bank is located on 120 South Third Street in Philadelphia, Pennsylvania. It was built in 1795. The First Bank building is now a National Historic Landmark. -
1816 Second Bank of The US
This bank is located on 420 Chestnut Street in Philadelphia, Pennsylvania. It was built in 1816. The architect that designed this bank was William Strickland. It is also known as BUS. -
Civil War Printing Currency
The National Bank Note Company of New York printed a million dollars in Confederate Notes, earlier in 1861. -
1863 National Banking Act
It was a federal banking act that established a system of national banks for a bank. This created the United States National Banking System. -
1913 Federal Reserve Act
This was an act of congress that created and set up the Federal Reserve System. The act was signed into law by President Woodrow Wilson on December 23, 1913. It passed the House on September 18, 1913. Passed the Senate on December 18, 1913. -
1930's Great Depression
The Great Depression was a worldwide economic depression. It started in the decade before World War II. It affected a lot of people. The country that was the most affected was Germany. Lots of people became homeless and had to beg on the streets. -
Glass Steagall Banking Act
It was also known as the Banking Act of 1933. It was passed by congress in 1933 and prohibits commercial banks from engaging in the investment business. -
Banking in the 1970's
Banking in the 1970's was very serious. While you were working there was not talking or laughing. When you were learning and you made a mistake with a customer, they would call the manager. You started out as a cashier. Everyone had to be smartly dressed. -
Banking in 1982
During banking in 1982, a new banking act was passed. There was also lots of Latin American debt. Many Latin American countries borrowed money from international creditors. -
Gramm-Leach-Bliley Act
It is also known as the Financial Services Modernization Act of 1999. It was enacted on November 12, 1999. Investment banks, commercial banks, insurance companies, and securities firms were allowed to unite. This act repealed the Glass-Steagall Act. This act was signed into law by President Bill Clinton.
