Banking History Timeline

First Bank of the United States established

Jan 1, 1791

Coinage Act is Passed

Apr 2, 1792

The U.S. had to have a uniform currency, to be able to distribute it to all member states

Second Bank of the United States established

Jan 1, 1816

Panic of 1907

Jan 1, 1907

Federal Reserve system established

Jan 1, 1913

Stronger Credit

Jan 1, 1920

1020's

Credit made available to most americans

Jan 1, 1920

Stock Market Crash

Jan 1, 1929

J.P. Morgan and Co. announce that the group formed to halt the market crash on October 24-29, has sold all its shares and is disbanded.

Feb 24, 1930

stock prices fell and companies were folding

FDIC established

Jun 16, 1933

The government and people became more aware of the possiblity of losing money

Stable inflation rates; low intrest rates

Jan 1, 1940

The United States Savings Bonds Division in the Treasury Department continued the programs of the War Finance Division, the War Savings Staff and the Defense Savings Staff

Mar 1, 1946

the govt tried to get rid of inflation by selling bonds so they could get money

Rapid economic growth; overuse of credit; high inflation rate;consumer credit protection legisklation; birth of credit couseling

Jan 1, 1970

credit as a major marketing tool across industries; major stock marget gains; longest peace time expansion

Jan 1, 1990

stock market peak

Mar 10, 2000

people were investing like crazy in the 90s

9/11 occured

Sep 11, 2001

9/11 footage

Great Depression; decade of consumer distrust of credit and investment

Jan 1, 2013