ACT 3030 Lecture Notes - Lecture 3: Federal Deposit Insurance Corporation, Bank Holding Company Act, National Bank Act
Document Summary
It was redeemed in gold if the holder presented them at the bank. Imposed a tax on the issue of banknotes and created a system of federally chartered national banks to be supervised by the office of the controller of the currency. Created the federal deposit insurance corporation (fdic) and severely limited the activities of commercial banks, separating banks from the securities industry in order to avoid conflict of interest. Repealed the glass-steagall and opened up the possibilities for banks to take advantage of economies of scale and scope. Dodd-frank wall street reform and consumer protection act of 2010. Sets new rules for financial institutions and markets, requires closer government oversight of systematically important financial institutions, and altered the authorities of the government agencies that govern the financial system. Required that national chartered banks meet the branching restrictions of the states in which they were located.
