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1791 – First Bank of the United States Established 

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1791 – First Bank of the United States Established 

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The First Bank of the U.S. was chartered to manage debt and stabilize the national economy.

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1816 – Second Bank of the United States Established

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1816 – Second Bank of the United States Established

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Created to address economic challenges after the War of 1812, the Second Bank aimed to provide a more stable financial system

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1832 – Veto of the Bank’s Recharter by President Andrew Jackson

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1832 – Veto of the Bank’s Recharter by President Andrew Jackson

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President Andrew Jackson vetoed the recharter of the Second Bank, initiating the "Bank War" and leading to its eventual demise

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1836 – End of the Second Bank of the United States

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1836 – End of the Second Bank of the United States

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The charter of the Second Bank expired, ushering in the "Free Banking Era," where state-chartered banks dominated

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1816 – Second Bank of the United States Established

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1816 – Second Bank of the United States Established

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National Banking Acts Passed

These acts created a system of national banks, regulated the issuance of banknotes, and established the Office of the Comptroller of the Currency.

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The Federal Reserve System was established to provide a centralized banking structure and help prevent financial panics.

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The Glass-Steagall Act separated commercial banking from investment banking and established the Federal Deposit Insurance Corporation (FDIC) to protect depositors.

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This act transferred all gold ownership to the U.S. Treasury and prohibited private gold ownership, cementing the use of fiat currency.

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The U.S. dollar became the world's primary reserve currency, pegged to gold, and the International Monetary Fund (IMF) and World Bank were established

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President Nixon announced the suspension of the dollar’s convertibility into gold, ending the Bretton Woods system and solidifying fiat currency

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1980 – Deregulation and Monetary Control Act

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1980 – Deregulation and Monetary Control Act

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The Act expanded the Federal Reserve’s control over non-member banks and deregulated interest rates on savings accounts

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1999 – Repeal of Glass-Steagall Act (Gramm-Leach-Bliley Act)

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1999 – Repeal of Glass-Steagall Act (Gramm-Leach-Bliley Act)

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The repeal of Glass-Steagall allowed commercial and investment banks to consolidate, altering the structure of financial institutions.