-
Period: to
The begining of banking
The nation has no reliable medium of exchange. Federalists and ANtifederalists disagree about a banking system. -
Period: to
First Bank
First bank: "Bank of North America" -
Period: to
First bank
First Bank of the United States is established. -
Period: to
First Bankers
Gold smiths were some of the first bankers. -
Period: to
First Bank's Charter
Period of instability follows expiration of First Bank's charter. -
Second Bank
Second Bank of the United States reestablishes stability. -
Period: to
President Jackson
President Jackson vetoes recharter of Second Bank in 1832, giving rise to Free Banking Era. -
Gold
THe discovery of gold changed banking forever. -
Period: to
Civil War
Civil War makes clear the need for a better monetary and banking system. -
Period: to
National Banking Acts
National Banking Acts of 1863 and 1864 establish national banking system and uniform national currency. -
State Bank Laws
Laws were passed that stated that state banks could no longer issue thier own bills. -
First Time Lock
The first time lock was installed on a vault. -
Bank of Italy
The "Bank of Italy" started, ten years later over 200 branches covered the U.S. -
Earthquake destroys everything
An earthquake followed by a fire storm destryoed San Francisco and all the banks, but all the vaults were in tack. -
Panic of 1907
Panic of 1907 leads to creation of the Federal
Reserve System. -
President Wilson
President Wilson signs the Federal Reserve Act. -
Period: to
Growing Numbers
In the late 1920's almost 200 banks covered the U.S. By 1933, nearly 14,000 banks covered the U.S. -
Great Depression
The Great Depression begins -
Glass- Steagall Act
GLass- Steel Act was put into action. -
President Roosevelt and the FDIC
President Roosevelt helps restore confidence in the nation's banks by establishing the FDIC -
Period: to
A Stable Nation
Period of government regulation and long-term stability. -
Checks
Checks became more popular -
ATM
ATMs started being used. -
1st Bank Carrd
The first bank card in California. -
Deregulation
Period of deregulation; S&Ls face bankruptcies. -
Stable and Healthy Banks
After two decades of mergers, the banking system emerges stable and healthy. -
Online Banking
The Bank of America became the first bank to top 3 million online banking customers. -
Period: to
Bank Failuers
No banks failed during this two year period. -
2008 financial crisis
Considered to be the worst financial crisis since the Great Depression of the 1930s. It resulted in the threat of collapse of large financial institutions, the bailout of banks by national governments, and dops in stock markets around the world. -
FDIC increases
Congress temporarily increased the insurance limit to $250,000.
