Bannk

Module 13 Lesson 2 Mastery Assignment

By jasminewang
  • First Bank of the US

    First Bank of the US

    This was the first national bank for the US. A charter was signed for it by George Washington.
  • Period: to

    History of the Banking Industry

  • Second Bank of the US

    Second Bank of the US

    This second bank was chartered on this day in 1816. It failed because it didn't regulate statebanks or charter any other bank.
  • Civil War (printing currency)

    Civil War (printing currency)

    Congress decided to authorize Demand Notes to finance the war in 1861. From 1861-1865, Confederate Currency was being printed.
  • National Banking Act

    National Banking Act

    This said that banks could have a state or federal charter - called dual banking.

  • Federal Reserve Act

    This was signed into law by President Wilson. It created our national bank.

  • Great Depression

    This caused many banks to collapse.

  • Glass-Steagall Banking Act

    This act established the Federal Deposit Insurance Corporation, which ensured that if a bank fails, then clients will still get their money back.

  • 1970's

    Congress relaxed restrictions on banks.

  • Savings & Loans Crisis

    This was when Congress allowed Savings and Loans banks to make many high risk loans and investments. These banks ended up failing and the federal government had a debt of $200 billion.

  • Gramm-Leach-Bliley Act

    This act allowed banks to have more control over banking, insurance, and securities.