National Bank Act
The National Banking Acts of 1863 and 1864 were two United States federal banking acts that established a system of national banks for banks, and created the United States National Banking System. They encouraged development of a national currency backed by bank holdings of U.S. Treasury securities and established the Office of the Comptroller of the Currency as part of the United States Department of the Treasury and authorized the Comptroller to examine and regulate nationally chartered banks. The legacy of the Act is its impact on the national banking system as it stands today and its support of a uniform U.S. banking policy.
Read more about National Bank Act: Background, Creation, Resurgence of State Banks, Legacy
Famous quotes containing the words national, bank and/or act:
“National isolation breeds national neurosis.”
—Hubert H. Humphrey (1911–1978)
“Denouement to denouement, he took a personal pride in the
certain, certain way he lived his own, private life,
but nevertheless, they shut off his gas; nevertheless,
the bank foreclosed; nevertheless, the landlord called;
nevertheless, the radio broke,
And twelve o’clock arrived just once too often,”
—Kenneth Fearing (1902–1961)
“You can’t take back an act you were able to think.”
—Friedrich Dürrenmatt (1921–1990)