First U.S. Bank Regulations May Look Strikingly Familiar

By Patrick   Follow   Tue, 26 Feb 2013, 10:11am PST   129 views   0 comments   Watch (0)   Share   Quote   Permalink   Like   Dislike

One hundred fifty years ago, the U.S. was two years into a brutal Civil War. The financial cost left the federal government under enormous stress, leading to a result no one had imagined: the first modern system of bank regulation. Before Congress passed An Act to Provide a National Currency on Feb. 25, 1863, government oversight of banking had been quite crude.

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