Banking Laws
Major Statutes Affecting the Industry
The following are the most important laws that have been enactedto regulate the U.S. banking industry.National Bank Act of 1864 — Established a nationalbanking system and the chartering of national banks.Federal Reserve Act of 1913 — Established the FederalReserve System as the central banking system of the United States.McFadden Act of 1927 — Amended the national bankinglaws and the Federal Reserve Act to prohibit interstate banking.Glass-Steagall Act — Also known as the BankingAct of 1933, established the Federal Deposit Insurance Corporation(FDIC) as a temporary agency. Separated commercial banking frominvestment banking, establishing them as separate lines of commerce.Banking Act of 1935…
