Time Line

Module 13 Lesson 2

1791 Bank of the US

The First Bank of the US, proposed by Alexander Hamilton, serve as a repository for federal funds and as the government’s fiscal agent.

1816 Second Bank of the US

The second Back of the US was headquartered in Philadelphia. A key Supreme Court decision came in the case of McCulloch v. Maryland in 1819

Civil War (printing currency)

Greenbacks were paper currency issued by the United States during the American Civil War.

1863 National Banking Act

The Act created a system of national banks, a uniform national currency, and an active secondary market for Treasury securities to help finance the Civil War

1913 Federal Reserve Act,

Intended to establish a form of economic stability through the introduction of the Central Bank, which would be in charge of monetary policy, into the United States.

1930’s Great Depression

Deepest and longest-lasting economic downturn in the history of the Western industrialized world, where the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors

Glass-Steagall Banking Act

Designed to provide for the safer and more effective use of the assets of banks, to regulate interbank control, to prevent the undue diversion of funds into speculative operations, and for other purposes.

1999 Gramm-Leach-Bliley Act

The Gramm-Leach-Bliley Act requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data.