The First Bank of The United States was needed because the government had a debt from the Revolutionary War. Each state had a different form of currency. The bank went away because state banks opposed it.
Second Bank of the US
This bank was chartered with the same responsibilities and powers as the First Bank. The Second Bank of the US failed because it didn't regulate state banks or charter any other bank.
In 1970 a Bank Secrecy Act was established. It requires financial institutions in the U.S. to assist U.S. government agencies to detect and prevent money laundering.
Banking in 1982
In Chile, a major economic crisis took place. The unemployment rate rose.
The Gramm-Leach-Bliley Act attempts to update and modernized the financial industry, It repealed the Glass-Steagall Act. It also stated that banks and other financial institutions were not allowed to offer financial services.