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1791 Bank of the U.S.
The first bank was needed in order to assist the debt the country had from the revolutionary war. -
Period: to
Banking in the U.S.
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1816 Second Bank of the United States
This bank was created for the same reason as the first bank, to pay off ward debt. This was from the War of 1816. -
Civil War Currency
Currency was printed in the Civil War as metals. -
1863 National Banking Act
Created a system of national banks for other banks and the United States National Banking System. -
1913 Federal Reserve Act
Created the Federal Reserve System, the government run banking system of the United States of America. -
1930's Great Depression
Over 9,000 banks failed during the 1930's. This was a result of the thoughtless spending. It is one of the main reasons that caused the Great Depression. -
The Glass - Steagall Banking Act
Separtated the power of commercial and investment banks. -
Banking in the 1970's
Many secondary banks were on the brink of bankruptcy. In 1973 there was a stock crash. The Brett Woods system collapsed in 1971. -
Banking in 1982
The Garn–St. Germain Depository Institutions Act happened. It deregulateted savings and loan associations. It also allowed mortgage loans that were adjustable. -
1999 Gramm-Leach-Bliley Act
This adjusted some parts of the Glass - Steagall Act of 1933. It stopped baniking, secuirty, and insurance companies from doubling up as a commercial bank, investment bank, and an insurance company.
