Banking in America
History, for those who care
First Bank of the United States
Second Bank of the United States
There were two attempts made to make the bank unconstitutional between 1818 and 1825. In 1819, McCulloch vs. Maryland, the Supreme Court unanimously decided the bank was constitutional. In Osborn vs. The Bank of the United Sates (1824), the Supreme Court reaffirmed their previous decision.
In the late eighteen twenties and thirties, the bank had a brief period of success. In 1832, Congress drafted a bill to renew the bank's charter and the president, Andrew Jackson, vetoed it. The charter expired in 1836.
Printing Civil War Money
Source: https://www.treasurydirect.gov/kids/history/history_civilwar.htm
Banking Act of '63
- Create a system of national banks.
- Create a uniform national currency - the CSA printed their own currency during the war.
- Create an active secondary market for the treasury to help with war financing.
The Federal Reserve Act of 1913
Source: http://www.let.rug.nl/usa/essays/general/a-brief-history-of-central-banking/federal-reserve-act-(1913).php
The Great depression (DUH-DUH-DAAAHH!)
glass-STEAGALL BANKING aCT
Source: http://www.federalreservehistory.org/Events/DetailView/25
banking IN THE SEVENTIES
1982
Source: http://www.federalreservehistory.org/Events/DetailView/46
G-L-B ACT 1999
Source: https://www.ftc.gov/tips-advice/business-center/privacy-and-security/gramm-leach-bliley-act