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Master's Thesis from the year 2015 in the subject Law - Public Law / Constitutional Law / Basic Rights, University of Carthage (Faculty of Legal, Political and Social Sciences), course: Common Law, language: English, abstract: This master's thesis explains the dual banking system in the USA. The experience of a national bank similar to the British bank was the first step in the creation of the dual banking system in the United States of America, this latter system was enforced through history. The government felt the need to a national bank ―The First National Bank - because of some debt from a Revolutionary War, and due to the diversity of currency forms. Up to the time of the bank's charter, coins and bills were issued by state banks. Proposed by Alexander Hamilton, the Bank of the First United States was chartered for twenty years in 1791 to serve as a repository for federal funds and as the government‘s fiscal agent. The creation of a national bank seemed unconstitutional at that time for many members of the congress. They argued that such an institution would be implementing a monetary monopoly within the United States especially that one of the reasons of this creation is to unify the currency, which means that the National Bank will be the only authorized party that can issue money notes. As a private institution, shares were sold to private parties, and after few years of the creation of the bank, 70 percent of the shares were owned by foreigners. This fact was not strange to the American financial system, but politicians had worries about it. Thus, in 1811 after 20 years of the first charter, the re-chartering process failed and did not pass in the congress. The second relevant fact that enforced the dual banking system was the two national banking acts in 1863 and in 1864, The National Bank Acts were two United States federal laws that established a system of national charters for banks, the United States national banks.
The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities—all thanks to deregulation that began in the 1970s and continues decades later. “Baradaran argues persuasively that the banking industry, fattened on public subsidies (including too-big-to-fail bailouts), owes low-income families a better deal...How the Other Half Banks is well researched and clearly written...The bankers who fully understand the system are heavily invested in it. Books like this are written for the rest of us.” —Nancy Folbre, New York Times Book Review “How the Other Half Banks tells an important story, one in which we have allowed the profit motives of banks to trump the public interest.” —Lisa J. Servon, American Prospect
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Volume II of this book grew out of the author’s work as an economist for the U.S. Congress on the staff of the House Banking Committee under Chairman Wright Patman and his successor, Chairman Henry Reuss; as an analyst for the Congressional Budget Office; and as finance economist for the House Energy and Commerce Subcommittee on Telecommunications, Consumer Protection and Finance. It is a re-examination of the validity of traditional concerns in order to establish the Context for congressional actions to modify the existing regulatory and structural framework.
Examining the regulation of banking in the United States between 1900 and the Great Depression, Eugene Nelson White shows how Congress and the state legislatures tried to strengthen the banking system by creating new institutions, rather than by changing nineteenth-century laws that perpetuated the unit structure of the banking industry. Originally published in 1983. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Presents a series of “short-term” and “intermediate-term” recommendations that could immediately improve and reform the U.S. regulatory structure. The short-term recommendations focus on taking action now to improve regulatory coordination and oversight in the wake of recent events in the credit and mortgage markets. The intermediate recommendations focus on eliminating some of the duplication of the U.S. regulatory system, but more importantly try to modernize the regulatory structure applicable to the banking, insurance, securities, and futures industries.