History of the U.S. Banking System

By twang
  • The first bank of the United States

    The first bank of the United States

    Congress set up the Bank of United States, granting it a 20-year charter to operate.
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  • The free bank era

    The free bank era

    The number of state-chartered banks nearly tripled.
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  • Stability in the later 1800s

    By 1860, an estimated 8000 different banks were circulating currency.
  • The second bank of the United States

    The second bank of the United States

    Congress charted the second bank of the United States.

  • Bank in the Early 1900s

    Lacking adequate reserves, many banks had to stop exchanging gold for paper money.
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  • Bank and the Great Depresssion

    Bank and the Great Depresssion

    Great Depression-the severe economic deciline that began in 1929 and lasted more than a decade.

  • The saving and Loan crisis

    The deregulation contributed to a crisis in a calss of banks known as savings and Loans.
  • Congress measures

    Congress measures

    Congress passed legislation that essential abolished the independence of the savings and loan industry. This legislation expanded the insurance responsilibities of the FDIC.
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  • Financial "Meltdown" and Bailout

    In late 2006, problems in the U.S. banking industry began to threaten the housing market.
  • Slow recovery

    Slow recovery

    President bush and President Obama have taken many steps to try to revive the economy, but even so, the recovery has been slow.