Major Milestones of US Banking

  • The First Central Bank

    Alexander Hamilton started the First Bank of the United States.
  • First Bank Charter

    The First Bank charter expired and congress didn't vote to renew.
  • First nations savings institution

    Rich, a maker of combs, received a loan in from the Oxford Provident Building Association, the nation's first savings institution.
  • Gold Rush Begins

  • The New York Clearing Association

    Established
  • National Currency Act

    Created the national currency such as a dollar bill.
  • Massive Banking panic

    One of the most severe banking panics.
  • Federal Reserve

    Woodrow Wilson signed the Federal Reserve Act
  • Open Market Operations

    A large number of government securities were purchased as evidence to use Open Market Operations. They are a tool in regulation monetary policy.
  • Stock Market Crashed

  • FDIC

    Congress enacted federal deposit insurance.
  • Bank Holding Company Act

    Prohibits bank holding companies headquartered in one state from acquiring a bank in another state unless that other state's laws authorize the acquisition.
  • International Lending Supervision Act

    It directs all banking regulatory agencies to ensure that all banking institutions maintain adequate capital levels
  • Congress Repealed Glass-Seagull Act

    The act effectively separated commercial and investment banking
  • Electronic Banking Increase

    The first time electronic banking out numbered paper checks.