Module 13

Timeline

1791

The Bank of the US was given a grant by Congress, that was signed by President Washington.
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1816

The Second bank of the US was also given a grant, but it failed because it wasn't regulated between state banks or granted to other banks.
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Civil War

No paper bills were printed during the Civil War, because the US government needed to save money during the war.
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1863

The National Banking Act addressed state currency and allowed dual banking, a system in which there is state and national banking structure.
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1913

The Federal Reserve Act is when congress created the Federal Reserve System, or the central bank of the US.
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1930's Great Depression

The Great Depression caused many banks to close and fail, and they could only reopen if and when they were financially stable.
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Glass-Steagall

The Glass-Steagall Banking Act was created by the Federal Deposit Insurance Corporation, which means your is money protected if the bank ever goes under.
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1970's

The restrictions on banks were loosened.
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1982

The banks failed again because of high risk loans and poor investments.
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1999 Gramm-Leach-Bliley Act

Gramm-Leach-Bliley Act, Banks now have more control over banking, insurance, and securities.
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