1. The Federal Reserve was established in 1913 to centralize control of the U.S. monetary system.
2. The Glass-Steagall Act separated commercial banking from investment banking in 1999.
3. The FDIC was created to insure deposits and restore trust in the banking system after the Great Depression.
4. The Dodd-Frank Act was passed in response to the financial crisis of 2008.
5. The National Banking Act of 1863 created a national currency and regulated banking at the state level.
6. The Gramm-Leach-Bliley Act of 1999 repealed parts of the Glass-Steagall Act, allowing banks to offer commercial banking, securities, and insurance services under one roof.
7. The Federal Reserve's main goal is to stabilize prices, control inflation, and ensure maximum employment.
8. The McFadden Act of 1927 allowed banks to expand freely across state lines.
9. The Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 per depositor.
10. The Federal Reserve Act of 1913 was passed to regulate speculative trading by banks.
11. The Dodd-Frank Act introduced stress testing for banks to ensure they could survive financial crises.
12. In 2018, some of the Dodd-Frank regulations were rolled back for banks with less than $250 billion in assets.
13. The Community Reinvestment Act (CRA) was introduced to encourage banks to help meet the credit needs of all communities, including low- and moderate-income neighborhoods.
14. The Volcker Rule, part of the Dodd-Frank Act, restricted banks from making certain types of speculative investments that do not benefit their customers.