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BY OLIVIA RICHARDS
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Bank of the US.
National bank chartered for a 20 term year. -
Period: to
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Second Bank of the United States.
Second Bank of the United States. It ran a 20 year charter starting in Feburary of 1816 to January 1836. It is located in Philadelphia, Pennsylvania. -
Civil War (printing currency)
The Civil War was causing there to be a coin shortage so the first paper currency was printed in Civil War time. Printing to much money in the north would have caused inflation so the North avoided this by raising the taxes. -
National Banking Act of 1863 &1864
The National Banking Act were attempts to have federal control over a banking system without having to create a whole other bank. The banks could now have duel banking. -
Banking Act of 1864
Same as 1863 Act..... -
1913 Federal Reserve Act
The Act was formed to establish form of economic stability through the central bank. -
Great Depression pertaining to money
The Great Depression caused the banks to collpase. FDR created a bank holiday, They were only allowed to open if they were financially stable. -
Glass-Steagall Banking Act
Established in Federal Deposit Insurance Corporation. It explains that if a bank goes into debt, you are still guarnteed your money. -
The 1970s regarding banking
The Congress relaxes restrictions on banks. Banks complained they would lose money to other companies unless they had more services. -
1982 (Regarding Banking)
In 1982 a major crisis was suffered in the US. Congress allows S &L banks to make high risk loans. As a result insvestments went bad and banks failed. The federal government has to give investors all their money back. The government was $200 million in debt. -
Gramm-Leach-Bliley Act
This act allows the banks to have more control over banking. There is less competition, and may form a universal bank and can lead to more sharing on information.
