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Period: to
Bank Industry of the US
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1791 Bank of the US
The creation of a National Bank for the US -
1816 Second bank of the US
The Second Bank of the U.S. was chartered in 1816 -
Civil War
Printing of currecny was used to save metals for the war -
National Banking Act
established a system of national banks for banks -
Federal Reserve Act
Established the Federal Reserve -
Great Depression
Many Banks were forced to close during the great depression. -
Glass-Steagall Banking Act
Prohibits commercial banks from engaging in the investment business -
Banking in the 1970's
During the 1970's several events happened; the collapse of the Bretton Woods system in 1971,the growing income of imported manufacturing goodsthe 1973 oil crisis,
and the 1973–1974 stock market crash. -
Banking in 1982
Garn–St. Germain Depository Institutions Act of 1982, was inacted during this time, and it deregulated savings and loan associations and allowed banks to provide adjustable-rate mortgage loans -
Gramm-Leach-Bliley Act
The Gramm-Leach-Bliley Act requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data.
