Module 13 Lesson 2 Assignment
1791 Bank of the US
Bank acted as a national government bank. It was ended by the state banks, because they thought it gave the government too much power.
1816 Second Bank of the US
Didn't regulate state banks or other banks. Ended because other states were already printing their own money.
Civil War (printing currency)
Federal government didn't start printing money until the Civil War.
1863 National Banking Act
Created duel banking. Banks could have a federal charter, or state charter.
1913 Federal Reserve Act
This created the nations central bank, the Federal Reserve.
1930’s Great Depression (regarding banking)
Created the Glass-Steagall Banking Act. Only stable banks were allowed to reopen.
Glass-Steagall Banking Act, 1970’s (regarding banking),
It created FDIC, and it separated commercial and investment banks.
1982 (regarding banking)
Congress allows S&L banks to make high risk loans and investments.
1999 Gramm-Leach-Bliley Act.
Allows banks more control over banking, securities, insurance. It basically ended the Glass-Steagall Banking Act