1 janv. 1927 - The McFadden act of 1927; gave individual states the authority to govern bank branches located within the state. later repealed during Clinton admin with The Riegle-Neal Act of 1994
Description:
The McFadden Act of 1927 is a U.S. federal law that gave individual states the authority to govern bank branches located within state borders.While the McFadden Act permitted national banks to operate multiple branches within a state's limitations, it prohibited interstate banking or the expansion of banks across state lines.
The act also extended the Federal Reserve's charter into perpetuity and reduced regulations governing commercial banks that were members of the Federal Reserve.1
The Riegle-Neal Act of 1994 repealed the provision within the McFadden Act prohibiting interstate banking, thus enabling national banks to open branches across state lines
Ajouté au bande de temps:
Date:
1 janv. 1927
Maintenaint
~ Il y a 98 ans