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Free Banking Act
New York passes the Free Banking Act which allows anyone to open a bank as long as they comply with certain legal conditions. Other states followed suit and these state banks began issuing their own money. -
National Bank Act
Establishes the Office of the Comptroller of the Currency, a national banking system, and a standardized national currency. The new national banking system is under the supervision of the Office of the Comptroller of the Currency. Also established an inspection system for national banks. -
Sherman Anti-Trust Act
Prohibits trusts and other entities from preventing international and state-wide trade. -
Federal Reserve Act
Established the Federal Reserve System (or Fed), the Federal Reserve Board, and twelve regional reserve banks -
Federal Reserve Act
Established the Federal Reserve System (or Fed), the Federal Reserve Board, and twelve regional reserve banks -
Black Thursday
The start of the Stock Market Crash of 1929. Started the Great Depression. -
First Glass-Steagell Act (Hoover)
The Glass-Steagall Act is signed by President Herbert Hoover. This act is also referred to as the first Glass-Steagall Act and the Banking Act of 1933. It increases the amount of credit Federal Reserve Banks can extend and allows commercial paper to be used as reserve. -
Second Glass-Steagell Act (FDR)
The second Glass-Steagall Act also called the Banking Act of 1933 is signed by President Franklin Delano Roosevelt. It establishes the Federal Deposit Insurance Corporation (FDIC) and prohibits interest payments for checking accounts. It also separates commercial and investment banking, a bank could do one or the other but not both -
Banking Act of 1935
President Franklin Delano Roosevelt approves the Banking Act of 1935. The act permanently establishes the Federal Deposit Insurance Corporation (FDIC) and expands the power of the Federal Reserve System. -
Bank Holding Company Act
Bank Holding Company Act establishes new regulations for bank holding companies to purchase banks and prohibits interstate bank purchases. It also prohibits bank holding companies from engaging in non-banking activities -
Truth in Lending Act
The Truth in Lending Act which is part of the Consumer Credit Protection Act of 1968 is passed by Congress. The Act regulates the information that is provided to the consumer. It provides full disclosure to consumers of credit terms -
Bank Holding Company Act Amendments
The Bank Holding Company Act (BHCA) Amendments are passed by Congress. The Amendments are created to clarify aspects of the Bank Holding Company Act of 1956. It requires the Federal Reserve Board to regulate bank holding companies and establishes what non-bank activities are or are not permissible -
International Banking Act
The International Banking Act is passed by Congress. The Act delegates the regulation and supervision of foreign banks in the U.S. to the Federal Reserve -
Depository Institutions Deregulation and Monetary Control Act
President Jimmy Carter signs the Depository Institutions Deregulation and Monetary Control Act. The Act establishes reserve requirements for all banks including ones not in the Federal Reserve System. It also begins phasing out Regulation Q which dictates what banks can pay on deposits; and it authorizes savings and loans associations to issue credit cards among other rights. Finally, it exempted mortgage and other types of loans from state usury laws. -
Financial Institutions Reform, Recovery, and Enforcement Act
President George H. W. Bush signs the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA). It abolishes the Federal Savings and Loan Insurance Corporation (FSLIC) and the Federal Deposit Insurance Corporation (FDIC) absorbs the responsibility of insuring deposits. It also abolishes the Federal Home Loan Bank Board (FHLBB), but creates the Federal Housing Finance Board (FHFB) and the Office of Thrift Supervision (OTS) to take its place. The Act establishes the Resolution Trust C -
FDICIA
President George H. W. Bush signs the Federal Deposit Insurance Corporation Improvement Act (FDICIA) which increased the powers of the Federal Deposit Insurance Corporation (FDIC). It also gives the Federal Deposit Insurance Corporation (FDIC) the authority to borrow directly from the U.S. Treasury to replenish the Bank Insurance Fund (BIF) and authorizes the Federal Deposit Insurance Corporation (FDIC) to close failing banks in the most cost-effective manner for the Bank Insurance Fund (BIF) -
Riegle Community Development and Regulatory Improvement Act
President William J. Clinton signs the Riegle Community Development and Regulatory Improvement Act (RCDRIA) which restricts non-bank lenders from abusive lending practices towards the low and moderate income homeowners, minorities, and the elderly. The Act also contains provisions to reduce bank regulatory and paperwork requirements. -
Riegle-Neal Interstate Banking and Branching Efficiency Act
President William J. Clinton signs the Riegle-Neal Interstate Banking and Branching Efficiency Act which enables banks and bank holding companies to branch across states. It also enables interstate bank mergers if concentration limits, state laws, and Community Reinvestment Act (CRA) evaluations are met. -
Federal Modernization Act
President William J. Clinton signs the Federal Modernization Act which repeals the Glass-Steagall Act of 1933. The Act allows commercial and investment banks to merge and enables competition between banking, insurance, and securities businesses. -
Financial Services Regulatory Relief Act
President George W. Bush signs the Financial Services Regulatory Relief Act which is designed to reduce the regulatory burdens on banks, savings and loans, and credit unions. -
Dodd–Frank Wall Street Reform and Consumer Protection Act
An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.
