Search results
Results from the WOW.Com Content Network
A teller in a branch of Bank Muamalat, Indonesia. A bank teller (often abbreviated to simply teller) is an employee of a bank whose responsibilities include the handling of customer cash and negotiable instruments. In some places, this employee is known as a cashier or customer representative. [1] Tellers also deal with routine customer service ...
From Buildings and Loans to Bail-Outs: A History of the American Savings and Loan Industry, 1831–1995 (Cambridge University Press, 2004). Meltzer, Allan H. A History of the Federal Reserve (2 vol. U of Chicago Press, 2010). Murphy, Sharon Ann. Other People's Money: How Banking Worked in the Early American Republic (2017) online review
Crowd at New York's American Union Bank during a bank run early in the Great Depression. During the Crash of 1929 preceding the Great Depression, margin requirements were only 10%. [200] Brokerage firms, in other words, would lend $9 for every $1 an investor had deposited. When the market fell, brokers called in these loans, which could not be ...
In 1791, U.S. Treasury Secretary Alexander Hamilton created the Bank of the United States, a national bank intended to maintain American taxes and pay off foreign debt. [2] However, President Andrew Jackson closed the bank in 1832 and redirected all bank assets into U.S. state banks. [2]
By 1797 there were 24 chartered banks in the U.S.; with the beginning of the free banking era (1837) there were 712. Privately issued note, 1863. During the free banking era, the banks were short-lived compared to today's commercial banks, with an average lifespan of five years.
Amadeo Pietro Giannini (Italian pronunciation: [amaˈdɛːo ˈpjɛːtro dʒanˈniːni]), also known as Amadeo Peter Giannini or A. P. Giannini (May 6, 1870 – June 3, 1949) was an American banker who founded the Bank of Italy, which eventually became Bank of America. Giannini is credited as the inventor of many modern banking practices.
Wells Fargo was an American banking company based in San Francisco, California, that was acquired by Norwest Corporation in 1998. During the California Gold Rush in early 1848 at Sutter's Mill near Coloma, California, financiers and entrepreneurs from all over North America and the world flocked to California, drawn by the promise of huge profits.
A wildcat bank is broadly defined as one that prints more currency than it is capable of continuously redeeming in specie. A more specific definition, established by historian of economics Hugh Rockoff in the 1970s, applies the term to free banks whose notes were backed by overvalued securities – bonds which were valued at par by the state, but which had a market value below par. [2]