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Period: to
Banking Industry
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1791 Bank of the US
The 1791 Bank of the US was chartered in 1791 by Congress.It was a national bank and served a 20-year term. The 1791 Bank of the US is commonly known as the First bank of the United States. Commons.Wikipedia,public domain -
1816 Second Bank of the US
The Second Bank of the US was the second federally authorized national bank. The Second Bank of the US had a 20-year charter that was finished in January of 1836. This bank regualated public credit issues and create a stable national currency. By Beyond My Ken - Own work, GFDL, https://commons.wikimedia.org/w/index.php?curid=26164813 -
Civil War
Greenback were paper currency issued in the United States during the Civil War. They were legal but they were not backed by gold or silver. By National Museum of American History - Image by Godot13, Public Domain, https://commons.wikimedia.org/w/index.php?curid=33422091 -
1863 National Banking Act
This was the first attempt to establish a central bank. This act allowed the creation of national banks and created a plan for establishing a national currency backed by the government
http://www.let.rug.nl/usa/essays/general/a-brief-history-of-central-banking/national-banking-acts-of-1863-and-1864.php -
1913 Federal Reserve Act
An act created by Congress that established the Federal Reserve System, the central banking system of the US, and issued Federal Reserve Notes. By 1913 US newspaper clipping, Public Domain, https://commons.wikimedia.org/w/index.php?curid=5211151 -
Great Depression
Caused by the drop in stock market prices that led to the stock market crash. Which caused the collapse of the banking system. Public Domain, https://commons.wikimedia.org/w/index.php?curid=52734 -
Glass-Steagall Banking Act
The Glass-Steagall Banking Act established by the Federal Deposit Insurance Corporation ensure that even if your bank fails, your money is protected. https://commons.wikimedia.org/w/index.php?curid=10412592 -
1970's
The central bank reverses policies and the interest rates go up. Cars and Homes have become unafordable for some US citizens. Image:https://www.fdic.gov/bank/analytical/banking/2006sep/article1/index.html -
1982
In 1982 many banks took advantage of loose regulations and gave out more money and loans that they could afford to. Banks failed because of bad investments. Causing the Federal government to pay back money. Image:http://www.myvirtualdisplay.com/2008/04/02/bank-failures-in-historical-perspective/ -
Gramm-Leach-Blily Act
This act removed barriers between insurance companies, banking companies, and security companies. Public Domain, https://commons.wikimedia.org/w/index.php?curid=10412630
