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This was the first national bank for the US. A charter was signed for it by George Washington.
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This second bank was chartered on this day in 1816. It failed because it didn't regulate statebanks or charter any other bank.
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Congress decided to authorize Demand Notes to finance the war in 1861. From 1861-1865, Confederate Currency was being printed.
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This said that banks could have a state or federal charter - called dual banking.
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This was signed into law by President Wilson. It created our national bank.
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This caused many banks to collapse.
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This act established the Federal Deposit Insurance Corporation, which ensured that if a bank fails, then clients will still get their money back.
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Congress relaxed restrictions on banks.
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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.
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This act allowed banks to have more control over banking, insurance, and securities.
