Banking Timeline

By:Victoria Walker

1791 Bank of the U.S--Feb. 25th 1791

This bank could collect fees and make payments for the federal government. President Washington is the one who signed off on the bank. This bank was disliked by the state bank because they felt it gave the government to much power. It later went away.

1816 Second Bank of the U.S

This bank started up in 1816 but would fail because it dint control or regulate state banks as well as other banks. This led to state banks making their own money.

Civil War (Printing currency)

The civil war is when the government started to produce paper money.

1863 National Banking Act

This help create a system for banks and created our national currency that would help finance the war too.

1913 Federal Reserve Act

This act created the federal reserve system.

1930's Great Depression--Oct. 29th?

This was the day that the stock market on wall street crashed. This was the longest economic downfall the united states ever experienced. All banks closed and were only allowed to reopen if they could prove they had the money to do so.

Glass-Stegall Banking Act 1970's

This act would ensure that if a bank collapsed you wouldn't loose the money you put in it. this was the creation of the Federal Deposit Insurance.

1982

This was when bankers were making high risk investment and loans. When they failed the government ended up owing the people a total of $200 million dollars

1999 Gramm-leach-bliley Act

This act gave bankers more control over things like banking, insurance, and things of that nature. led to less competition with banks