Module 13 Lesson 2 Assignment
1791-Bank of the US
The first bank established in the US was on February 25 1791 in Philadelphia, Pennsylvania
1816-Second Bank of the US
Also established in Philadelphia, Pennsylvania.
1861- 1865 Civil War (printing currency)
The first paper currency was printed by the government .
1863 National Banking Act
The act was designed to create a national banking system where banks could have a Federal or State charter.
1913 Federal Reserve Act
An act that was created by Congress which established the federal reserve system. This granted it the legal authority to issue US currency.
1930’s Great Depression (regarding banking)
Banks were closed for a "bank holiday" but were only allowed to reopen if proven financially stable.
1932 Glass-Steagall Banking Act
An act ensuring that if a bank fails, the money you put in it is still yours.
1970’s (regarding banking)
There wasn't as many restrictions on banking as in the past.
1982 (regarding banking)
Banks and investments were failing because banks were allowed to make high risk loans.
The 1999 Gramm-Leach-Bliley Act
An act that gave banks more control over the banking and insurance they provide.