The Bank of the US received a charter in 1791
This charter comes from congress which was signed by President Washington. This bank collected fees and made payments on behalf of the federal government, the bank went away because the states banks opposed it; thought it gave too much power to national government.
The federal government did not print paper currency until the Civil war.
1913 Federal Reserve Act
This created National banks for America.
Glass-Steagall Banking Act
Established the Federal Deposit Insurance Corporation, and ensured that if a bank goes under, that the people will still have their money.
1982 Congress allows S&L banks to make high risk loans and investments
investments went bad, banks failed, federal government had to give investors back their money, federal government debt 200 billion dollars, and the FDIC took over the S&L.