History of the U.S. Banking

Module 13

Lesson 2

1797

Gramm- leach- Bliley act. Repealed parts of the Glass-Steagall Act of 1933Removed barriers between banking, insurance, and securities companies

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Federal reserve act.Signed December 23, 1913Signed by President Woodrow WilsonCreated the Federal Reserve System

First bank of the United states.Received a 20 year charter on February 1791Main office was located in PhiladelphiaHad 8 nationwide branches

Civil War

Congress authorized treasury to issue paper money Paper money was called demand notes

1816

Great depression.Wall streets’ “Great Crash” was said to cause the Great DepressionDuring the Great Depression millions of dollars disappearedBank failures occurred on a large scaleFailure of the banks caused peoples money to be lost

1861

Inflation recorded at its maximumInflations skyrocketedPrices soared

national banking act.Act was passed by congressDesigned to create the National Banking System

Limited the commercial banks activities of the securities,Banking act was passed in 1933

1930's

1970's

1913

1999

second bank of the united states.Functioned from 1816 to 1836Came under attack from Jacksonian democrats and was not renewed

Glass-Steagall Banking Act

http://business.ftc.gov/privacy-and-security/gramm-leach-bliley-acthttp://www.ushistory.org/tour/first-bank.htmhttp://www.let.rug.nl/usa/essays/general/a-brief-history-of-central-banking/second-bank-of-the-united-states-%281816-1836%29.phphttp://www.smethporthistory.org/300.block/hamlin.bank/Banking%20Act.htmhttps://www.google.com/imghp?hl=en&tab=wihttp://www.let.rug.nl/usa/essays/general/a-brief-history-of-central-banking/federal-reserve-act-%281913%29.phphttp://www.u-s-history.com/pages/h1504.htmlhttp://www.banking.senate.gov/conf/

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