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