United States

Banking Industry

1791 Bank of the US

First National Bank
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1816 Second Bank of the US

Replaced the First National Bank
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Civil War (printing currency)

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1863 National Banking Act

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1913 Federal Reserve Act

Established the Federal Reserve System, the central banking system for the US.
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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
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Glass-Steagall Banking Act

Prohibited commercial banks from participating in the investment banking business.

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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Repealed part of the Glass-Steagall Banking Act by allowing banking, securities and insurance companies to act as a combination of an investment bank, commercial bank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

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