United States
Banking Industry
1791 Bank of the US
First National Bank
1816 Second Bank of the US
Replaced the First National Bank
Civil War (printing currency)
1863 National Banking Act
1913 Federal Reserve Act
Established the Federal Reserve System, the central banking system for the US.
1930's Great Depression
A stock market crash caused people to pull money out of banks. Banks closed and unemployment rates went up by a butt load
Glass-Steagall Banking Act
Prohibited commercial banks from participating in the investment banking business.
1970's Banking
A housing market crash in the US along with a stock market crash caused an economic crisis
1982 Banking
A recession was caused because the Federal Reserve's monetary policy caused inflation.
1999 Gramm-Leach-Bliley Act
Repealed part of the Glass-Steagall Banking Act by allowing banking, securities and insurance companies to act as a combination of an investment bank, commercial bank and insurance company