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1791 Bank of the US
Known as the frist bank of America and it was a nationsl bank, was givena charter by the Congress in 1791.The bank was needed ,because of the financial problems from the wars. Once the bank was made ti collect fees and paid payments for the government. the year 1811 the bank was sen as a disappointment,because it gave too much power to the government. -
1816 the Second Bank of America
The bank was charter in in 1816 in the United States.the main reason for this bank was because of inflation and sufferage from the military needs.this bank ended up failing,because it had not progessed. -
Civil War (Printing Currency)
Once the governement got in debt it needed a way to get itself out of debt.The Lender tender Sct was created and this act made it possible for the governement to print may know as greenbacks. -
1863 National Banking Act
This act created a national banking system.Offically the Congress created this act ;to cure and resolve the money crisis inthe United States. -
Federal Reserve Act.
Woodrow Wilsont the Presidentin 1913 signed the Federal Reserve Act.This act made it so the naitonal banks be apart of the Federal Reserve. -
Great Depression
Banks went out of business. Once the banks lost money and closed other business fell down and peoplelost jobs. Many people lost everything and had to liv ongthe street. Rarely any money was made. Once President roosevlt was in office he created a bank holiday and the banks closed ,but could only reopen if they were able to maintain. -
Glass Seagall Banking Act
Created after banks closed in the Great Depression.It serpreated banking into insurance,banking and sercurity..It created the Federal Deposit Insurance Coroparation. This made safe for the money of citizens. -
Reguarding Banking
In the 1970s the Glass Seagull Act went down hill and created problems.The banks were given more power by being allowed to gien financial services. Many Americans could then be given loans and buy homes. -
Reguarding Banks
In 1982 it was complete turning around.The saving and loans banks were making high risk loans. The investments were going bad. -
Gramm-Leach-Billey Act
This act was created on November 12 in 1999.It removed barreirs and made it possible to banking,insurance, and sercurity. This made competitions less important and a possible creation of a univesral banks.
