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First Bank of the United States, was a central bank, chartered for a term of twenty years, by the United States Congress on February 25, 1791
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Reestablishes stability in the banking world in the United States Of America
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President Jackson vetoes recharter of Second Bank in 1832, giving rise to Free Banking Era
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Civil War makes clear the need for a better monetary and banking system
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required banks to hold enough gold and silver reserves to cover their bank notes.
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a monetary sytem in which paper money and coins are equal to ceratin amounts of gold.
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In 1874 time locks were being introduced so that it would be harder for criminals to break into vaults.
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Amadeo Giannini It grew by a branch banking strategy to become the Bank of America, the world's largest commercial bank with 493 branches in California and assets of $5 billion in 1945
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Panic of 1907 leads to creation of the federal Reseve System
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Presidont Wilson signs the Federal Reserve Act.
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The Great Depression was a severe worldwide economic depression in the decade preceding World War II. it started in 1930 and lasted until the late 1930s or middle 1940s.
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President Roosevelt helps restore confidence in the nation banks by establishing the FDIC
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was a pioneering computer development project run at SRI International under contract to Bank of America in order to automate banking bookkeeping. The project ran from 1950 to 1955.
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Credit cards came to life and it made it easier because people did not have to carry wads of cash with them. bank of american was the first bank to use credit cards
