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Bank of the US founded
This was a bank that collected fees and that made payments for the federal government. It was taken away because people thought it gave to much power to the central government. -
Second Bank of the US
Created in 1816, this bank failed because no other banks were regulated by it. -
Civil War Printing Currency
It was during the civil war that the government began printing paper money. -
National Banking Act
This act allowed dual banking. -
Federal reserve act.
This act created the national bank now known as the Fed. -
The Great Depression
Banks crashed becuase of unstable usage of money causing many banks to close and many people to lose their jobs. -
Glass Steagall Banking Act
Created the FDIC to make sure people would have their money even if a bank went out of business. -
Banking in the 1970's
In the 1970's, congress unintensified the restrictions on banking making it much easier to get loans. -
Banking in 1982
In 1982 congress let banks make loans that did not have a good chance of getting paid back. This caused banks to fail and put the Federal government 200 billion dollars in debt. -
Gramm-Leach-Bliley Act
Let banks have more control over their banking, insurance, and security.