The BIG Change

How has everything changed ?

1971 Bank of the US

This bank was chartered (a written grant) in 1791 by Congress and it was signed by President Washington. This bank collected fees, and made payments, BUT the state bank opposed (rejected).
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1816 Second Bank of the US

This bank was charted (a written grant) in 1816. Sadly this bank failed because it didn't regulate (control or maintain) state banks and state banks weren't issuing heir own currency.
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Civil War (printing currency)

The federal government didn't print paper currency until the Civil War. Why? because the civil war brought a coinage shortage, so the print paper was created.
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1863 National Banking Act

This meant that banks could have a state or federal charter.This was designed to create a national banking system.
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1913 Federal Reserve Act

This was a national bank. The purpose of this act was to have a form of economic stability. This act is one influential law that concerns the US
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1930's Great Depression (Regarding Banking)

The Great Depression caused banks to close, and they could only reopen if they proved that they were financially stable
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Glass Steagall Banking Act

This basically means that if a bank was to close that you would still have your money.
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1970's Banking Act

Congress kind of released restrictions on banks
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1982 Regarding Banking

This allowed S&L banks to make high risk loans, and investments. But the investments went BAD!
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1999 Gramm Leach Billey Act

This act allowed banks to have more control over banking, insurance, and securities.
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