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class="vector-toc-numb">2</span> <span>Forerunners</span> </div> </a> <button aria-controls="toc-Forerunners-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Forerunners subsection</span> </button> <ul id="toc-Forerunners-sublist" class="vector-toc-list"> <li id="toc-New_England_country_banks" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#New_England_country_banks"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.1</span> <span>New England country banks</span> </div> </a> <ul id="toc-New_England_country_banks-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-First_federal_bank_interim" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#First_federal_bank_interim"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2</span> <span>First federal bank interim</span> 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<p><b>Wildcat banking</b> was the issuance of <a href="/wiki/Paper_currency" class="mw-redirect" title="Paper currency">paper currency</a> in the <a href="/wiki/United_States_of_America" class="mw-redirect" title="United States of America">United States</a> by poorly capitalized state-chartered <a href="/wiki/Bank" title="Bank">banks</a>. These wildcat banks existed alongside more stable state banks during the <a href="/wiki/Free_Banking_Era" class="mw-redirect" title="Free Banking Era">Free Banking Era</a> from 1836 to 1865, when the country had no national banking system. States granted banking charters readily and applied regulations ineffectively, if at all.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Bank closures and outright scams regularly occurred, leaving people with worthless money. </p><p>Operating in remote locations with limited or absent financial infrastructure, wildcat banks supplied a <a href="/wiki/Medium_of_exchange" title="Medium of exchange">medium of exchange</a> in the form of <a href="/wiki/Bearer_instrument" title="Bearer instrument">bearer notes</a> that they issued on their own credit. These notes were formally redeemable in specie (i.e. gold or silver <a href="/wiki/Coin" title="Coin">coins</a>) but typically collateralized by other assets such as <a href="/wiki/Government_bond" title="Government bond">government bonds</a> or <a href="/wiki/Mortgage_note" title="Mortgage note">real estate notes</a>, or occasionally by nothing at all. Hence they carried a risk that the bank could not redeem them on demand.<sup id="cite_ref-Gorton_2-0" class="reference"><a href="#cite_note-Gorton-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Terminology">Terminology</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=1" title="Edit section: Terminology"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A wildcat bank is broadly defined as one that prints more currency than it is capable of continuously redeeming in specie. A more specific definition, established by historian of economics Hugh Rockoff in the 1970s, applies the term to free banks whose notes were backed by overvalued securities – bonds which were valued at par by the state, but which had a market value below par.<sup id="cite_ref-Gorton_2-1" class="reference"><a href="#cite_note-Gorton-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>The earliest attested use in the <a href="/wiki/Oxford_English_Dictionary" title="Oxford English Dictionary">Oxford English Dictionary</a> is an 1838 reference to "'Wild Cat' money" in the Albany newspaper <i>The Jeffersonian</i>.<sup id="cite_ref-OED_3-0" class="reference"><a href="#cite_note-OED-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>A number of etymological explanations for the term have been proposed. The OED suggests that the term may have originated as a reference to the notes of a particular Michigan bank which bore the emblem of a panther (which were locally referred to as "wild cats").<sup id="cite_ref-OED_3-1" class="reference"><a href="#cite_note-OED-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> The collection of <a href="/wiki/Eric_P._Newman" title="Eric P. Newman">Eric P. Newman</a> includes a counterfeit purporting to be an 1828 note from Catskill Bank in New York, which features an image of a mountain lion and which has been described as the "true wild cat note".<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> Another proposed explanation relates to the practice of establishing such banks in remote locations in the wildnerness, where wild cats might be found, in order to impede people from reaching the bank to redeem their notes.<sup id="cite_ref-reporters_5-0" class="reference"><a href="#cite_note-reporters-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> A third explanation relates to an act of the <a href="/wiki/Missouri_Territory" title="Missouri Territory">Missouri Territory</a> in 1816 to incentivize the killing of wolves, panthers, and wildcats near inhabited areas. For each animal scalp, a person would be compensated with a certificate bearing some monetary value, which was accepted as legal tender for the payment of local taxes. These "wildcat certificates" came to be used as currency and hence, the story goes, the "wildcat" qualifier came to be applied to other forms of currency which were not readily redeemable in specie, including the notes of certain banks.<sup id="cite_ref-reporters_5-1" class="reference"><a href="#cite_note-reporters-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Forerunners">Forerunners</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=2" title="Edit section: Forerunners"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Andrew_Dexter.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Andrew_Dexter.jpg/220px-Andrew_Dexter.jpg" decoding="async" width="220" height="277" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Andrew_Dexter.jpg/330px-Andrew_Dexter.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/59/Andrew_Dexter.jpg/440px-Andrew_Dexter.jpg 2x" data-file-width="541" data-file-height="682" /></a><figcaption>Andrew Dexter Jr., a wildcat banking pioneer</figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="New_England_country_banks">New England country banks</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=3" title="Edit section: New England country banks"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Suffolk_Bank" title="Suffolk Bank">Suffolk Bank</a> and <a href="/wiki/Suffolk_System" class="mw-redirect" title="Suffolk System">Suffolk System</a></div> <p>The earliest example of what came to be called wildcat banking began in <a href="/wiki/New_England" title="New England">New England</a> during the 1790s. The banking establishment of <a href="/wiki/Boston" title="Boston">Boston</a> was opposed by a greater number of country banks throughout the region. Because the city banks refused the country banks' currency, it came to dominate the commercial activity of Boston, while the city banks' notes were paid directly back to them. Country bankers soon understood that distance from the city was an advantage, since notes that found their way to Boston did not easily return for payment. In the mid-1800s businessman <a href="/wiki/Andrew_Dexter_Jr." title="Andrew Dexter Jr.">Andrew Dexter Jr.</a> acquired interests in several of these remote banks to support his construction of a central money exchange in Boston. He borrowed extravagantly from the banks and flooded the city with newly issued notes. These included the Farmers' Exchange Bank of Gloucester, located in the isolated village of <a href="/wiki/Chepachet,_Rhode_Island" title="Chepachet, Rhode Island">Chepachet, Rhode Island</a>; the Berkshire Bank, located in <a href="/wiki/Pittsfield,_Massachusetts" title="Pittsfield, Massachusetts">Pittsfield</a> at the other end of Massachusetts; and even the Detroit Bank, which Dexter's associates had established more than 600 miles (970 km) away in the newly organized <a href="/wiki/Michigan_Territory" title="Michigan Territory">Michigan Territory</a>.<sup id="cite_ref-Kamensky_7-0" class="reference"><a href="#cite_note-Kamensky-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> When the scheme unraveled in 1809, the Berkshire Bank received more notes for payment in one day than the entire amount outstanding on its books.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Farmers' Exchange Bank made history as the first American bank to fail, with $86 on hand to pay $580,000 in notes.<sup id="cite_ref-Kamensky_7-1" class="reference"><a href="#cite_note-Kamensky-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="First_federal_bank_interim">First federal bank interim</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=4" title="Edit section: First federal bank interim"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Another period of credit expansion by state banks occurred after the expiration of the First Bank of the United States in 1811, culminating in the <a href="/wiki/Panic_of_1819" title="Panic of 1819">Panic of 1819</a>. The Bank's prompt collection of state bank notes had enforced a degree of responsibility that soon faded. The <a href="/wiki/Burning_of_Washington" title="Burning of Washington">burning of Washington</a> in late 1814 during the <a href="/wiki/War_of_1812" title="War of 1812">War of 1812</a> prompted <a href="/wiki/Bank_run" title="Bank run">bank runs</a> across the eastern seaboard and the suspension of <a href="/wiki/Coin" title="Coin">specie</a> payments by state governments. City governments and every sort of business resorted to paying their expenses with notes and <a href="/wiki/Shinplaster" title="Shinplaster">shinplasters</a>, and the expansion of money could not easily be reined in after the war had ended.<sup id="cite_ref-knox398_9-0" class="reference"><a href="#cite_note-knox398-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> The urgent need to restore coins to circulation was one argument in favor of creating a <a href="/wiki/Second_Bank_of_the_United_States" title="Second Bank of the United States">Second Bank of the United States</a>.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Senator <a href="/wiki/Samuel_Smith_(Maryland_politician)" title="Samuel Smith (Maryland politician)">Samuel Smith</a>, advocating for a national bank, called the backcountry banks of the period "caterpillars of the nation," pests that starved the country of credible money. The new Bank was established in 1816 and started to liquidate the government's holdings of state bank notes over several years, during which state banks continued to proliferate.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>When bank charters were not available, entrepreneurs found other ways of entering the business. In New York, the law prohibited anyone from forming a corporation for the purpose of banking without a state charter, but did not prevent banking as a side business. By the time the legislature closed the loophole in 1818, the businesses exploiting it included aqueduct companies, turnpike companies, tavern-keepers and glass-makers.<sup id="cite_ref-knox398_9-1" class="reference"><a href="#cite_note-knox398-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> Unchartered banking associations were created in the western regions of Virginia and Pennsylvania to supply the credit needs of local settlers,<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> as well as in Kentucky and Ohio. A traveler in the latter states observed "much trouble with paper money" at the end of 1818 that could only lead to "penance" and the return to a smaller money stock.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> By that time a policy shift by the Second Bank was already underway. In response to declining crop prices, it called upon state banks for cash payment of the notes that it held. The Bank's call was followed by a collapse in prices for American agricultural exports. Real estate prices plummeted amid foreclosures, businesses were ruined and a two-year recession followed. The crisis left the Bank in better financial condition and the remaining state banks more accountable, but also left resentment of the Bank's harsh approach.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Background_of_free_banking">Background of free banking</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=5" title="Edit section: Background of free banking"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Jacksonian_bank_policy">Jacksonian bank policy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=6" title="Edit section: Jacksonian bank policy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1833, as part of his effort to break the political power of the Second Bank, President <a href="/wiki/Andrew_Jackson" title="Andrew Jackson">Andrew Jackson</a> ordered the removal of federal funds from the Bank to favored state banks, known as <a href="/wiki/Pet_bank" class="mw-redirect" title="Pet bank">pet banks</a>. He subsequently signed the Deposit Act of 1836, which continued the federal subsidy to state banks and prevented the Secretary of the Treasury from regulating credit expansion by those banks in the manner that the Second Bank had. He also issued the <a href="/wiki/Specie_Circular" title="Specie Circular">Specie Circular</a>, which required federal land sales to be paid in silver or gold coin and had the effect of drawing those coins from the coast to the developing interior. A collapse in the price of cotton in 1836 led the <a href="/wiki/Bank_of_England" title="Bank of England">Bank of England</a> to limit the flow of money to the United States. This, along with the failure of domestic businesses involved in cotton production, produced the <a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a> and an economic depression lasting roughly five years. Businesses, especially in the west, found it difficult to obtain the hard money to which they had been accustomed and turned to creative methods of finance. In subsequent years <a href="/wiki/Democratic_Party_(United_States)" title="Democratic Party (United States)">Democratic Party</a> politicians continued to oppose centralized banking, and the <a href="/wiki/Supreme_Court_of_the_United_States" title="Supreme Court of the United States">Supreme Court</a> ruled in <i><a href="/wiki/Briscoe_v._Bank_of_Kentucky" title="Briscoe v. Bank of Kentucky">Briscoe v. Bank of Kentucky</a></i> that states could issue currency only on the credit of private parties, not that of the state.<sup id="cite_ref-Conant_16-0" class="reference"><a href="#cite_note-Conant-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Prevalence_of_wildcat_banks">Prevalence of wildcat banks</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=7" title="Edit section: Prevalence of wildcat banks"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The experience of free banking varied across the country. As a system of independent banks chartered by independent legislatures, it suffered from inconsistency, inconvenience and risk, but not every privately organized state bank was a fraudulent or reckless "wildcat." Even relatively well-run banks could fail to pay out if a drop in a state's credit devalued the bonds that secured the bank's notes, or if a crisis such as the outbreak of war shook public confidence.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Free_banking_in_Michigan">Free banking in Michigan</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=8" title="Edit section: Free banking in Michigan"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="thumb tright" style=""><div class="thumbinner" style="width:222px"><div class="thumbimage noresize" style="width:220px;"> <div class=""> <div style="width: 220px; height: 170px; overflow: hidden;"> <div style="position: relative; top: -200px; left: -565px; width: 800px"><div class="noresize"><span typeof="mw:File"><a href="/wiki/File:FARMER(1884)_p164_ELECTION_SCENE_-_FIRST_STATE_ELECTION.jpg" class="mw-file-description"><img alt="FARMER(1884)_p164_ELECTION_SCENE_-_FIRST_STATE_ELECTION.jpg" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7e/FARMER%281884%29_p164_ELECTION_SCENE_-_FIRST_STATE_ELECTION.jpg/800px-FARMER%281884%29_p164_ELECTION_SCENE_-_FIRST_STATE_ELECTION.jpg" decoding="async" width="800" height="671" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7e/FARMER%281884%29_p164_ELECTION_SCENE_-_FIRST_STATE_ELECTION.jpg/1200px-FARMER%281884%29_p164_ELECTION_SCENE_-_FIRST_STATE_ELECTION.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7e/FARMER%281884%29_p164_ELECTION_SCENE_-_FIRST_STATE_ELECTION.jpg/1600px-FARMER%281884%29_p164_ELECTION_SCENE_-_FIRST_STATE_ELECTION.jpg 2x" data-file-width="1731" data-file-height="1451" /></a></span></div></div> </div> </div></div><div class="thumbcaption">Jacksonian Democrats in Michigan advocated for free banking rather than a state monopoly.</div></div></div> <p>The term "wildcat banking" arose in reference to the <a href="/wiki/Michigan" title="Michigan">Michigan</a> banking boom of the late 1830s. Promptly upon becoming a state in 1837, Michigan passed the General Banking Act, which allowed any group of landowners to organize a bank by raising at least $50,000 <a href="/wiki/Capital_stock" class="mw-redirect" title="Capital stock">capital stock</a> and depositing <a href="/wiki/Mortgage_note" title="Mortgage note">notes</a> on real estate with the government as security for their bank notes. This law was unprecedented in a country where legislatures normally chartered each bank with a separate act. Although it was a regulated system in theory, the commissioners appointed to regulate the banks lacked the resources to do so effectively. A total of 49 banks were established, a surprising number given the capital requirement, and in time several were found to have cheated the law by <a href="/wiki/Watered_stock" title="Watered stock">watering</a> their stock with phony contributions or passing cash from one bank to another ahead of the visiting commissioners.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-utley_20-0" class="reference"><a href="#cite_note-utley-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>The banks issued currency notes that could be redeemed in specie only at rural locations, assuming cash was on hand. Commissioner <a href="/wiki/Alpheus_Felch" title="Alpheus Felch">Alpheus Felch</a> recalled that one bank's "cash reserves" consisted of boxes of nails and glass topped with silver coins. Anyone who received the notes had to discount them according to their expected redemption value. According to a contemporary newspaper report: </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>Michigan money is thus classed—First quality, Red Dog; second quality, Wild Cat; third quality, <a href="/wiki/Cougar" title="Cougar">Catamount</a>. Of the best quality, it is said, it takes five <a href="/wiki/Peck" title="Peck">pecks</a> to make a <a href="/wiki/Bushel" title="Bushel">bushel</a>.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>In response to these abuses, Michigan suspended new charters under the act. It attempted to create a single closely regulated state bank modeled on the neighboring <a href="/wiki/Bank_of_Indiana" title="Bank of Indiana">Bank of Indiana</a>, but was unable to raise the necessary capital. States continued to experiment with banking regulation in the absence of a federal policy, while <a href="/wiki/Arkansas" title="Arkansas">Arkansas</a> and <a href="/wiki/Iowa" title="Iowa">Iowa</a> prohibited banks entirely.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (March 2021)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="Railroad_banks">Railroad banks</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=9" title="Edit section: Railroad banks"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Erie_and_Kalamazoo_Banknote_1853.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/97/Erie_and_Kalamazoo_Banknote_1853.jpg/220px-Erie_and_Kalamazoo_Banknote_1853.jpg" decoding="async" width="220" height="92" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/97/Erie_and_Kalamazoo_Banknote_1853.jpg/330px-Erie_and_Kalamazoo_Banknote_1853.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/97/Erie_and_Kalamazoo_Banknote_1853.jpg/440px-Erie_and_Kalamazoo_Banknote_1853.jpg 2x" data-file-width="2805" data-file-height="1175" /></a><figcaption>A note issued by the banking arm of the <a href="/wiki/Lake_Shore_and_Michigan_Southern_Railway" title="Lake Shore and Michigan Southern Railway">Erie & Kalamazoo Railroad</a></figcaption></figure> <p>The Free Banking Era coincided with the first phase of railroad speculation. Not only did banks sponsor railroads, but railroad companies also entered the banking business to finance their expenses. Although railroads were indeed built, spectacular failures occurred. The Ohio Railroad company, established in 1835 to build along the coast of <a href="/wiki/Lake_Erie" title="Lake Erie">Lake Erie</a>, immediately used a permissive clause in its charter to begin issuing credit notes, which it redeemed from its state funding. The company's failure left several hundred thousand dollars in worthless currency and an unusable track built upon wooden pilings. Similar episodes played out in southern states, where railroads received explicit authority to operate as banks. An 1830s railroad boom in Mississippi covered the state with speculative routes and railroad bank paper. <a href="/wiki/Robert_Y._Hayne" title="Robert Y. Hayne">Robert Y. Hayne</a> organized the South Western Railroad Bank to finance interstate routes from South Carolina to Ohio, with stringent rules to protect its capital, but it ultimately had to suspend payments on its notes when the railroad ran out of funding.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> One of these institutions, the <a href="/wiki/Georgia_Railroad_and_Banking_Company" title="Georgia Railroad and Banking Company">Georgia Railroad and Banking Company</a>, survived the Free Banking Era, the Civil War and subsequent upheavals, ultimately merging with <a href="/wiki/First_Union" title="First Union">First Union</a> in 1986.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Late_period">Late period</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=10" title="Edit section: Late period"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Bank_of_Florence_NE.JPG" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Bank_of_Florence_NE.JPG/220px-Bank_of_Florence_NE.JPG" decoding="async" width="220" height="165" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Bank_of_Florence_NE.JPG/330px-Bank_of_Florence_NE.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Bank_of_Florence_NE.JPG/440px-Bank_of_Florence_NE.JPG 2x" data-file-width="3600" data-file-height="2700" /></a><figcaption>The <a href="/wiki/Bank_of_Florence" class="mw-redirect" title="Bank of Florence">Bank of Florence</a> in present-day Omaha</figcaption></figure> <p>The 1850s saw a new wave of free banking laws and outbreaks of wildcat banking in <a href="/wiki/Tennessee" title="Tennessee">Tennessee</a>, <a href="/wiki/Indiana" title="Indiana">Indiana</a>, <a href="/wiki/Wisconsin" title="Wisconsin">Wisconsin</a> and the <a href="/wiki/Nebraska_Territory" title="Nebraska Territory">Nebraska Territory</a>.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> The laws of Indiana and Wisconsin allowed bankers to start business with minimal capital and accepted discounted state bonds at their face value as a security deposit. A "banker" might even pay for the discounted bonds with the same notes that they backed, draw the interest on the bonds, and circulate the surplus notes as he chose.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> Nebraska declared bank issues a crime in its first legislative session of 1855, but the following year it granted several banking charters, including that of the <a href="/wiki/Bank_of_Florence" class="mw-redirect" title="Bank of Florence">Bank of Florence</a>. The third year, a new criminal code omitted the banking provision, allowing banks to organize under general business law.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Panic_of_1857" title="Panic of 1857">Panic of 1857</a> wiped out all of the territory's banks, and only one paid all of its notes.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p><p>In 1863 the federal government passed a <a href="/wiki/National_Bank_Act" title="National Bank Act">National Bank Act</a> that created a national currency based on federal debt. This was not another centralized system. Local private banks issued the new currency, but under uniform rules that prevented confusion about the value of each bank's notes. A heavy tax on the former state bank notes removed them from circulation, bringing the wildcat phenomenon to an end.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="In_popular_culture">In popular culture</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=11" title="Edit section: In popular culture"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the Swedish movie <i><a href="/wiki/The_New_Land_(1972_film)" title="The New Land (1972 film)">The New Land</a></i> (1972), the character Robert is paid in wildcat notes, which is later discovered by his brother Karl Oskar. </p> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=12" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFKrauseLemke2003" class="citation book cs1"><a href="/wiki/Chester_Krause" title="Chester Krause">Krause, Chester L.</a>; Lemke, Robert F. (2003). <i>Standard Catalog of United States Paper Money</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Standard+Catalog+of+United+States+Paper+Money&rft.date=2003&rft.aulast=Krause&rft.aufirst=Chester+L.&rft.au=Lemke%2C+Robert+F.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-Gorton-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-Gorton_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Gorton_2-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGorton2015" class="citation book cs1">Gorton, Gary B. (2015). "Reputation Formation in Early Bank Note Markets". <a rel="nofollow" class="external text" href="https://doccdn.simplesite.com/d/3a/78/284289731718314042/f3e03073-08eb-448b-87da-77d1dbe0cc6d/Gorton%2B-%2BThe%2BMaze%2Bof%2BBanking%2BHistory%2BTheory%2BCrisis%2B(2015).pdf"><i>The Maze of Banking: History, Theory, Crisis</i></a> <span class="cs1-format">(PDF)</span>. Oxford University Press. pp. 69–70. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780190204839" title="Special:BookSources/9780190204839"><bdi>9780190204839</bdi></a>. <q>In general, a "wildcat" bank refers to a bank that inflated its currency to the point at which it could not be continuously redeemed.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Reputation+Formation+in+Early+Bank+Note+Markets&rft.btitle=The+Maze+of+Banking%3A+History%2C+Theory%2C+Crisis&rft.pages=69-70&rft.pub=Oxford+University+Press&rft.date=2015&rft.isbn=9780190204839&rft.aulast=Gorton&rft.aufirst=Gary+B.&rft_id=https%3A%2F%2Fdoccdn.simplesite.com%2Fd%2F3a%2F78%2F284289731718314042%2Ff3e03073-08eb-448b-87da-77d1dbe0cc6d%2FGorton%252B-%252BThe%252BMaze%252Bof%252BBanking%252BHistory%252BTheory%252BCrisis%252B%282015%29.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-OED-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-OED_3-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-OED_3-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFReference-OED-wild_cat" class="citation encyclopaedia cs1"><span class="id-lock-subscription" title="Paid subscription required"><a rel="nofollow" class="external text" href="https://www.oed.com/view/Entry/228992">"wild cat"</a></span>. <i><a href="/wiki/Oxford_English_Dictionary" title="Oxford English Dictionary">Oxford English Dictionary</a></i> (Online ed.). <a href="/wiki/Oxford_University_Press" title="Oxford University Press">Oxford University Press</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=wild+cat&rft.btitle=Oxford+English+Dictionary&rft.edition=Online&rft.pub=Oxford+University+Press&rft_id=https%3A%2F%2Fwww.oed.com%2Fview%2FEntry%2F228992&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span> <span style="font-size:0.95em; font-size:95%; color: var( --color-subtle, #555 )">(Subscription or <a rel="nofollow" class="external text" href="https://www.oed.com/public/login/loggingin#withyourlibrary">participating institution membership</a> required.)</span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://nnp.wustl.edu/library/ImageDetail/598742">Catskill Bank $5 Contemporary Counterfeit</a></span> </li> <li id="cite_note-reporters-5"><span class="mw-cite-backlink">^ <a href="#cite_ref-reporters_5-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-reporters_5-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDillistin1949" class="citation book cs1">Dillistin, William H. (1949). <a rel="nofollow" class="external text" href="http://numismatics.org/digitallibrary/ark:/53695/nnan78163"><i>Bank note reporters and counterfeit detectors</i></a>. American Numismatic Society.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Bank+note+reporters+and+counterfeit+detectors&rft.pub=American+Numismatic+Society&rft.date=1949&rft.aulast=Dillistin&rft.aufirst=William+H.&rft_id=http%3A%2F%2Fnumismatics.org%2Fdigitallibrary%2Fark%3A%2F53695%2Fnnan78163&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWhite1895" class="citation book cs1"><a href="/wiki/Horace_White_(writer)" title="Horace White (writer)">White, Horace</a> (1895). <i>Money and Banking</i>. p. 372.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Money+and+Banking&rft.pages=372&rft.date=1895&rft.aulast=White&rft.aufirst=Horace&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-Kamensky-7"><span class="mw-cite-backlink">^ <a href="#cite_ref-Kamensky_7-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Kamensky_7-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKamensky2008" class="citation book cs1">Kamensky, Jane (2008). <i>The Exchange Artist</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Exchange+Artist&rft.date=2008&rft.aulast=Kamensky&rft.aufirst=Jane&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSmith1876" class="citation book cs1">Smith, Joseph Edward A. 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Retrieved <span class="nowrap">17 February</span> 2021</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Federal+Reserve+Bank+of+Minneapolis+Quarterly+Review&rft.atitle=Free+Banking%2C+Wildcat+Banking%2C+and+Shinplasters&rft.ssn=fall&rft.volume=6&rft.issue=3&rft.date=1982&rft.aulast=Rolnick&rft.aufirst=Arthur+J.&rft.au=Weber%2C+Warner+E.&rft_id=https%3A%2F%2Fwww.minneapolisfed.org%2Fresearch%2Fquarterly-review%2Ffree-banking-wildcat-banking-and-shinplasters&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDunbar1995" class="citation book cs1">Dunbar, William F. (1995). <i>Michigan: A History of the Wolverine State</i>. p. 223.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Michigan%3A+A+History+of+the+Wolverine+State&rft.pages=223&rft.date=1995&rft.aulast=Dunbar&rft.aufirst=William+F.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-utley-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-utley_20-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFUtley1884" class="citation cs2"><a href="/wiki/Henry_Munson_Utley" title="Henry Munson Utley">Utley, H. M.</a> (1884), "The Wild Cat Banking System of Michigan", <i>Pioneer Collections</i>, vol. 5</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+Wild+Cat+Banking+System+of+Michigan&rft.btitle=Pioneer+Collections&rft.date=1884&rft.aulast=Utley&rft.aufirst=H.+M.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSumner1896" class="citation book cs1"><a href="/wiki/William_Graham_Sumner" title="William Graham Sumner">Sumner, William Graham</a> (1896). <i>A History of Banking in the United States</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+History+of+Banking+in+the+United+States&rft.date=1896&rft.aulast=Sumner&rft.aufirst=William+Graham&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFClevelandPowell1909" class="citation book cs1">Cleveland, Frederick Albert; Powell, Fred Wilbur (1909). <i>Railroad Promotion and Capitalization in the United States</i>. pp. 167–176.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Railroad+Promotion+and+Capitalization+in+the+United+States&rft.pages=167-176&rft.date=1909&rft.aulast=Cleveland&rft.aufirst=Frederick+Albert&rft.au=Powell%2C+Fred+Wilbur&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJones2017" class="citation book cs1">Jones, Robert C. (2017). <i>A History of Georgia Railroads</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+History+of+Georgia+Railroads&rft.date=2017&rft.aulast=Jones&rft.aufirst=Robert+C.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text"><a href="#CITEREFKnox1900">Knox 1900</a></span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text"><a href="#CITEREFKnox1900">Knox 1900</a>, pp. 702–703</span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text"><a href="#CITEREFKnox1900">Knox 1900</a>, p. 714</span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><a href="#CITEREFKnox1900">Knox 1900</a>, p. 807</span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text"><a href="#CITEREFKnox1900">Knox 1900</a>, p. 810</span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFConwayPatterson1914" class="citation book cs1">Conway, Thomas Jr.; Patterson, Ernest M. (1914). <i>The Operation of the New Bank Act</i>. pp. 1–15.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Operation+of+the+New+Bank+Act&rft.pages=1-15&rft.date=1914&rft.aulast=Conway&rft.aufirst=Thomas+Jr.&rft.au=Patterson%2C+Ernest+M.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=13" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239549316">.mw-parser-output .refbegin{margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}@media screen{.mw-parser-output .refbegin{font-size:90%}}</style><div class="refbegin" style=""> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKnox1900" class="citation book cs1"><a href="/wiki/John_Jay_Knox_Jr." title="John Jay Knox Jr.">Knox, John Jay</a> (1900). <i>A History of Banking in the United States</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+History+of+Banking+in+the+United+States&rft.date=1900&rft.aulast=Knox&rft.aufirst=John+Jay&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcMaster1916" class="citation book cs1"><a href="/wiki/John_Bach_McMaster" title="John Bach McMaster">McMaster, John Bach</a> (1916). <i>A History of the People of the United States</i>. Vol. 4.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+History+of+the+People+of+the+United+States&rft.date=1916&rft.aulast=McMaster&rft.aufirst=John+Bach&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=14" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAllen2009" class="citation book cs1">Allen, Larry (2009). <i>The Encyclopedia of Money</i> (2nd ed.). <a href="/wiki/Santa_Barbara,_California" title="Santa Barbara, California">Santa Barbara, CA</a>: <a href="/wiki/ABC-CLIO" class="mw-redirect" title="ABC-CLIO">ABC-CLIO</a>. pp. 436–437. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1598842517" title="Special:BookSources/978-1598842517"><bdi>978-1598842517</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Encyclopedia+of+Money&rft.place=Santa+Barbara%2C+CA&rft.pages=436-437&rft.edition=2nd&rft.pub=ABC-CLIO&rft.date=2009&rft.isbn=978-1598842517&rft.aulast=Allen&rft.aufirst=Larry&rfr_id=info%3Asid%2Fen.wikipedia.org%3AWildcat+banking" class="Z3988"></span></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Wildcat_banking&action=edit&section=15" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="http://www.frbatlanta.org/atlantafed/visitors_center/tour/section12.cfm">U.S. banks and money</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20071205071802/http://www.frbatlanta.org/atlantafed/visitors_center/tour/section12.cfm">Archived</a> 5 December 2007 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> Federal Reserve Bank of Atlanta</li> <li><a rel="nofollow" class="external text" href="http://www.britannica.com/EBchecked/topic/643626/wildcat-bank">"Wildcat bank"</a>. <i><a href="/wiki/Encyclop%C3%A6dia_Britannica" title="Encyclopædia Britannica">Encyclopædia Britannica</a></i>. Encyclopædia Britannica Online. Encyclopædia Britannica Inc., 2013. Web. Retrieved 6 December 2013.</li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist ul ol,.mw-parser-output .hlist ul ul{display:inline}.mw-parser-output .hlist .mw-empty-li{display:none}.mw-parser-output .hlist dt::after{content:": "}.mw-parser-output .hlist dd::after,.mw-parser-output .hlist li::after{content:" · ";font-weight:bold}.mw-parser-output .hlist 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href="/wiki/Article_One_of_the_United_States_Constitution" title="Article One of the United States Constitution">Article I of the U.S. Constitution</a> <ul><li>1787–1788; <a href="/wiki/Article_One_of_the_United_States_Constitution#Section_8:_Powers_of_Congress" title="Article One of the United States Constitution">Section VIII</a></li> <li><a href="/wiki/Article_One_of_the_United_States_Constitution#Section_10:_Limits_on_the_States" title="Article One of the United States Constitution">Section X</a></li></ul></li> <li><a href="/wiki/United_States_Department_of_the_Treasury" title="United States Department of the Treasury">U.S. Treasury Department</a> <ul><li>1789–1913; <a href="/wiki/United_States_Secretary_of_the_Treasury" title="United States Secretary of the Treasury">U.S. Treasury Secretary</a></li></ul></li> <li><a href="/wiki/United_States_Treasury_security" title="United States Treasury security">U.S. Treasury security</a> (1789–present)</li> <li><a href="/wiki/First_Bank_of_the_United_States" title="First Bank of the United States">First Bank of the United States</a> (1791–1811)</li> <li><a href="/wiki/Coinage_Act_of_1792" title="Coinage Act of 1792">Coinage Act of 1792</a></li> <li><a href="/wiki/United_States_Mint" title="United States Mint">United States Mint</a> (1792–1873)</li> <li><a href="/wiki/Coins_of_the_United_States_dollar" title="Coins of the United States dollar">U.S. dollar coins</a> (1792–)</li> <li><a href="/wiki/Half_dime" title="Half dime">Half dime</a> (1792–1873)</li> <li><a href="/wiki/1792_half_disme" title="1792 half disme">1792 half disme</a></li> <li><a href="/wiki/Half_cent_(United_States_coin)" title="Half cent (United States coin)">Half cent</a> (1793–1857)</li> <li><a href="/wiki/Large_cent" title="Large cent">Large cent</a> (1793–1857)</li> <li><a href="/wiki/Treasury_Note_(19th_century)" title="Treasury Note (19th century)">Treasury Note</a> (1812–1913)</li> <li><a href="/wiki/Banking_in_the_Jacksonian_Era" title="Banking in the Jacksonian Era">Banking in the Jacksonian Era</a> <ul><li><a href="/wiki/Second_Bank_of_the_United_States" title="Second Bank of the United States">Second Bank of the United States</a>, 1816–1836</li> <li><a href="/wiki/Suffolk_Bank" title="Suffolk Bank">Suffolk Bank</a>, 1818–1858</li> <li><i><a href="/wiki/McCulloch_v._Maryland" title="McCulloch v. Maryland">McCulloch v. Maryland</a></i>, 1819</li> <li><a href="/wiki/Safety_Fund_System" title="Safety Fund System">New York Safety Fund System</a>, 1829–1842</li> <li><a href="/wiki/Bank_War" title="Bank War">Bank War</a>, 1832–1836</li> <li><a href="/wiki/Coinage_Act_of_1834" title="Coinage Act of 1834">Coinage Act of 1834</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1849%E2%80%931865)" title="History of the United States (1849–1865)">Civil War Era</a><br />(1840–1870)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Free_banking" title="Free banking">Free banking</a> (1836–1865)</li> <li><a class="mw-selflink selflink">Wildcat banking</a> (1836–1865)</li> <li><a href="/wiki/The_Forstall_System" title="The Forstall System">Forstall System</a> (1842–1865)</li> <li><a href="/wiki/Independent_Treasury" title="Independent Treasury">Independent U.S. Treasury</a> (1846–1913)</li> <li><a href="/wiki/Coinage_Act_of_1849" title="Coinage Act of 1849">Coinage Act of 1849</a></li> <li><a href="/wiki/Three-cent_silver" title="Three-cent silver">Three-cent silver</a> (1851–1873)</li> <li><a href="/wiki/Coinage_Act_of_1853" title="Coinage Act of 1853">Coinage Act of 1853</a></li> <li><a href="/wiki/The_Clearing_House" title="The Clearing House">New York Clearing House Association</a> (1853–1863)</li> <li><a href="/wiki/Coinage_Act_of_1857" title="Coinage Act of 1857">Coinage Act of 1857</a></li> <li><a href="/wiki/Demand_Note" title="Demand Note">Demand Note</a> (1861–1862)</li> <li><a href="/wiki/Legal_Tender_Cases" title="Legal Tender Cases">Legal Tender Act of 1862</a></li> <li><a href="/wiki/United_States_Note" title="United States Note">United States Note</a> (1862–1971)</li> <li><a href="/wiki/Fractional_currency" title="Fractional currency">Fractional currency</a> (1862–1876)</li> <li><a href="/wiki/National_Bank_Act" title="National Bank Act">National Bank Acts</a> (1863; 1864)</li> <li><a href="/wiki/Interest_bearing_note" title="Interest bearing note">Interest bearing note</a> (1863–1865)</li> <li><a href="/wiki/History_of_central_banking_in_the_United_States" title="History of central banking in the United States">National banks system</a> (1863–1913)</li> <li><a href="/wiki/National_Bank_Note" title="National Bank Note">National Bank Note</a> (1863–c. 1930)</li> <li><a href="/wiki/Gold_certificate_(United_States)" title="Gold certificate (United States)">Gold certificate</a> (1863–1933)</li> <li><a href="/wiki/Compound_interest_treasury_note" title="Compound interest treasury note">Compound interest treasury note</a> (1863–1864)</li> <li><a href="/wiki/Coinage_Act_of_1864" title="Coinage Act of 1864">Coinage Act of 1864</a></li> <li><a href="/wiki/Two-cent_piece_(United_States)" title="Two-cent piece (United States)">Two-cent piece</a> (1864–1873)</li> <li><a href="/wiki/Three-cent_nickel" title="Three-cent nickel">Three-cent nickel</a> (1865–1889)</li> <li><a href="/wiki/Contraction_Act_of_1866" title="Contraction Act of 1866">Contraction Act of 1866</a></li> <li><a href="/wiki/Public_Credit_Act_of_1869" title="Public Credit Act of 1869">Public Credit Act of 1869</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a><br />(1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><i><a href="/wiki/Legal_Tender_Cases" title="Legal Tender Cases">Legal Tender Cases</a></i></li> <li><i><a href="/wiki/Hepburn_v._Griswold" title="Hepburn v. Griswold">Hepburn v. Griswold</a></i> (1870)</li> <li><a href="/wiki/Currency_Act_of_1870" title="Currency Act of 1870">Currency Act of 1870</a></li> <li><a href="/wiki/National_Gold_Bank_Note" title="National Gold Bank Note">National Gold Bank Note</a> (1870–1875)</li> <li><i><a href="/wiki/Knox_v._Lee" title="Knox v. Lee">Knox v. Lee</a></i> (1871)</li> <li><a href="/wiki/Coinage_Act_of_1873" title="Coinage Act of 1873">Coinage Act of 1873</a></li> <li><a href="/wiki/Free_silver" title="Free silver">Free silver</a></li> <li><a href="/wiki/Specie_Payment_Resumption_Act" title="Specie Payment Resumption Act">Specie Payment Resumption Act</a> (1875)</li> <li><a href="/wiki/Twenty-cent_piece_(United_States_coin)" title="Twenty-cent piece (United States coin)">Twenty-cent piece</a> (1875–1878)</li> <li><a href="/wiki/Bland%E2%80%93Allison_Act" title="Bland–Allison Act">Bland–Allison Act</a> (1878)</li> <li><a href="/wiki/Silver_certificate_(United_States)" title="Silver certificate (United States)">Silver certificate</a> (1878–1964)</li> <li><a href="/wiki/Refunding_Certificate" title="Refunding Certificate">Refunding Certificate</a> (1879–1907)</li> <li><i><a href="/wiki/Juilliard_v._Greenman" title="Juilliard v. Greenman">Juilliard v. Greenman</a></i> (1884)</li> <li><a href="/wiki/Sherman_Silver_Purchase_Act" title="Sherman Silver Purchase Act">Sherman Silver Purchase Act</a> (1890)</li> <li><a href="/wiki/Treasury_Note_(1890%E2%80%931891)" title="Treasury Note (1890–1891)">Treasury Note</a> (1890–1891)</li> <li><a href="/wiki/Gold_Standard_Act" title="Gold Standard Act">Gold Standard Act</a> (1900)</li> <li><a href="/wiki/Aldrich%E2%80%93Vreeland_Act" title="Aldrich–Vreeland Act">Aldrich–Vreeland Act</a> (1908)</li> <li><a href="/wiki/National_Monetary_Commission" title="National Monetary Commission">National Monetary Commission</a> (1909–1912)</li> <li><a href="/wiki/Federal_Reserve_Act" title="Federal Reserve Act">Federal Reserve Act</a> (1913)</li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Bank_regulation_in_the_United_States" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Bank_regulation_in_the_United_States" title="Template:Bank regulation in the United States"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Bank_regulation_in_the_United_States" title="Template talk:Bank regulation in the United States"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Bank_regulation_in_the_United_States" title="Special:EditPage/Template:Bank regulation in the United States"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Bank_regulation_in_the_United_States" style="font-size:114%;margin:0 4em"><a href="/wiki/Bank_regulation_in_the_United_States" title="Bank regulation in the United States">Bank regulation in the United States</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Federal authorities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Consumer_Financial_Protection_Bureau" title="Consumer Financial Protection Bureau">Consumer Financial Protection Bureau</a></li> <li><a href="/wiki/Farm_Credit_Administration" title="Farm Credit Administration">Farm Credit Administration</a></li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation" title="Federal Deposit Insurance Corporation">Federal Deposit Insurance Corporation</a></li> <li><a href="/wiki/Federal_Financial_Institutions_Examination_Council" title="Federal Financial Institutions Examination Council">Federal Financial Institutions Examination Council</a></li> <li><a href="/wiki/Federal_Housing_Finance_Agency" title="Federal Housing Finance Agency">Federal Housing Finance Agency</a></li> <li><a href="/wiki/Federal_Reserve_Board_of_Governors" title="Federal Reserve Board of Governors">Federal Reserve Board of Governors</a></li> <li><a href="/wiki/Financial_Stability_Oversight_Council" title="Financial Stability Oversight Council">Financial Stability Oversight Council</a></li> <li><a href="/wiki/National_Credit_Union_Administration" title="National Credit Union Administration">National Credit Union Administration</a></li> <li><a href="/wiki/Office_of_the_Comptroller_of_the_Currency" title="Office of the Comptroller of the Currency">Office of the Comptroller of the Currency</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Major federal <br />legislation</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Independent_Treasury" title="Independent Treasury">Independent Treasury Act</a></li> <li><a href="/wiki/National_Bank_Act" title="National Bank Act">National Bank Act</a></li> <li><a href="/wiki/Federal_Reserve_Act" title="Federal Reserve Act">Federal Reserve Act</a></li> <li><a href="/wiki/McFadden_Act" title="McFadden Act">McFadden Act</a></li> <li><a href="/wiki/1933_Banking_Act" title="1933 Banking Act">1933 Banking Act</a></li> <li><a href="/wiki/Glass%E2%80%93Steagall_legislation" title="Glass–Steagall legislation">Glass–Steagall Act</a></li> <li><a href="/wiki/Federal_Credit_Union_Act" title="Federal Credit Union Act">Federal Credit Union Act</a></li> <li><a href="/wiki/Bank_Holding_Company_Act" title="Bank Holding Company Act">Bank Holding Company Act</a></li> <li>Interest Rate Control Act of 1966</li> <li><a href="/wiki/Truth_in_Lending_Act" title="Truth in Lending Act">Truth in Lending Act</a></li> <li><a href="/wiki/Bank_Secrecy_Act" title="Bank Secrecy Act">Bank Secrecy Act</a></li> <li><a href="/wiki/Fair_Credit_Reporting_Act" title="Fair Credit Reporting Act">Fair Credit Reporting Act</a></li> <li><a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure Act</a></li> <li><a href="/wiki/Community_Reinvestment_Act" title="Community Reinvestment Act">Community Reinvestment Act</a></li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer Act</a></li> <li><a href="/wiki/Financial_Institutions_Regulatory_and_Interest_Rate_Control_Act_of_1978" title="Financial Institutions Regulatory and Interest Rate Control Act of 1978">Financial Institutions Regulatory and Interest Rate Control Act of 1978</a></li> <li><a href="/wiki/Depository_Institutions_Deregulation_and_Monetary_Control_Act" title="Depository Institutions Deregulation and Monetary Control Act">Monetary Control Act</a></li> <li><a href="/wiki/Garn%E2%80%93St._Germain_Depository_Institutions_Act" title="Garn–St. Germain Depository Institutions Act">Depository Institutions Act</a></li> <li>Competitive Equality Banking Act of 1987</li> <li><a href="/wiki/Financial_Institutions_Reform,_Recovery,_and_Enforcement_Act_of_1989" title="Financial Institutions Reform, Recovery, and Enforcement Act of 1989">FIRREA</a></li> <li><a href="/wiki/Federal_Deposit_Insurance_Corporation_Improvement_Act_of_1991" title="Federal Deposit Insurance Corporation Improvement Act of 1991">FDICIA</a></li> <li><a href="/wiki/Truth_in_Savings_Act" title="Truth in Savings Act">Truth in Savings Act</a></li> <li><a href="/wiki/Riegle-Neal_Interstate_Banking_and_Branching_Efficiency_Act_of_1994" class="mw-redirect" title="Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994">Riegle-Neal IBBEA</a></li> <li><a href="/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act" title="Gramm–Leach–Bliley Act">Gramm–Leach–Bliley Act</a></li> <li><a href="/wiki/Fair_and_Accurate_Credit_Transactions_Act" title="Fair and Accurate Credit Transactions Act">Fair and Accurate Credit Transactions Act</a></li> <li><a href="/wiki/Emergency_Economic_Stabilization_Act_of_2008" title="Emergency Economic Stabilization Act of 2008">Emergency Economic Stabilization Act</a></li> <li><a href="/wiki/Credit_CARD_Act_of_2009" title="Credit CARD Act of 2009">Credit CARD Act</a></li> <li><a href="/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd–Frank Wall Street Reform and Consumer Protection Act">Dodd–Frank</a></li> <li><a href="/wiki/Economic_Growth,_Regulatory_Relief,_and_Consumer_Protection_Act" title="Economic Growth, Regulatory Relief, and Consumer Protection Act">EGRRCPA</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Federal Reserve <br />Board regulations</div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>Extensions of Credit by Federal Reserve Banks (Reg A)</li> <li><a href="/wiki/Equal_Credit_Opportunity_Act" title="Equal Credit Opportunity Act">Equal Credit Opportunity (Reg B)</a></li> <li><a href="/wiki/Home_Mortgage_Disclosure_Act" title="Home Mortgage Disclosure Act">Home Mortgage Disclosure (Reg C)</a></li> <li><a href="/wiki/Regulation_D_(FRB)" title="Regulation D (FRB)">Reserve Requirements for Depository Institutions (Reg D)</a></li> <li><a href="/wiki/Electronic_Fund_Transfer_Act" title="Electronic Fund Transfer Act">Electronic Fund Transfer (Reg E)</a></li> <li>Limitations on Interbank Liabilities (Reg F)</li> <li>International Banking Operations (Reg K)</li> <li>Consumer Leasing (Reg M)</li> <li>Loans to Insiders (Reg O)</li> <li>Privacy of Consumer Financial Information (Reg P)</li> <li><a href="/wiki/Regulation_Q" title="Regulation Q">Prohibition Against the Paying of Interest on Demand Deposits (Reg Q)</a></li> <li>Credit by Brokers and Dealers (Reg T)</li> <li><span class="wrap">Credit by Banks and Persons Other Than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock (Reg U)</span></li> <li>Transactions Between Member Banks and Their Affiliates (Reg W)</li> <li>Borrowers of Securities Credit (Reg X)</li> <li><a href="/wiki/Truth_in_Lending_Act" title="Truth in Lending Act">Truth in Lending (Reg Z)</a></li> <li><a href="/wiki/Unfair_or_Deceptive_Acts_or_Practices" title="Unfair or Deceptive Acts or Practices">Unfair or Deceptive Acts or Practices (Reg AA)</a></li> <li><a href="/wiki/Community_Reinvestment_Act" title="Community Reinvestment Act">Community Reinvestment (Reg BB)</a></li> <li><a href="/wiki/Expedited_Funds_Availability_Act" title="Expedited Funds Availability Act">Availability of Funds and Collection of Checks (Reg CC)</a></li> <li><a href="/wiki/Truth_in_Savings_Act" title="Truth in Savings Act">Truth in Savings (Reg DD)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Types of bank charter</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Credit_unions_in_the_United_States" title="Credit unions in the United States">Credit union</a></li> <li><a href="/wiki/Federal_savings_association" title="Federal savings association">Federal savings association</a></li> <li><a href="/wiki/National_bank_(United_States)" title="National bank (United States)">National bank</a></li> <li><a href="/wiki/State_bank_(United_States)" title="State bank (United States)">State bank</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">State authorities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/California_Department_of_Financial_Protection_and_Innovation" title="California Department of Financial Protection and Innovation">California</a></li> <li><a href="/wiki/Colorado_Department_of_Regulatory_Agencies" title="Colorado Department of Regulatory Agencies">Colorado</a></li> <li><a href="/wiki/Florida_Department_of_Financial_Services" title="Florida Department of Financial Services">Florida</a></li> <li><a href="/wiki/Illinois_Department_of_Financial_and_Professional_Regulation" title="Illinois Department of Financial and Professional Regulation">Illinois</a></li> <li><a href="/wiki/Maryland_Department_of_Labor" title="Maryland Department of Labor">Maryland</a></li> <li><a href="/wiki/Michigan_Department_of_Insurance_and_Financial_Services" title="Michigan Department of Insurance and Financial Services">Michigan</a></li> <li><a href="/wiki/New_Hampshire_Banking_Department" title="New Hampshire Banking Department">New Hampshire</a></li> <li><a href="/wiki/New_Jersey_Department_of_Banking_and_Insurance" title="New Jersey Department of Banking and Insurance">New Jersey</a></li> <li><a href="/wiki/New_York_State_Department_of_Financial_Services" title="New York State Department of Financial Services">New York</a></li> <li><a href="/wiki/Ohio_Department_of_Commerce" title="Ohio Department of Commerce">Ohio</a></li> <li><a href="/wiki/Oklahoma_State_Banking_Department" title="Oklahoma State Banking Department">Oklahoma</a></li> <li><a href="/wiki/Oregon_Department_of_Consumer_and_Business_Services" title="Oregon Department of Consumer and Business Services">Oregon</a></li> <li><a href="/wiki/Pennsylvania_Department_of_Banking" title="Pennsylvania Department of Banking">Pennsylvania</a></li> <li><a href="/wiki/Tennessee_Department_of_Financial_Institutions" title="Tennessee Department of Financial Institutions">Tennessee</a></li> <li><a href="/wiki/State_Corporation_Commission_(Virginia)" title="State Corporation Commission (Virginia)">Virginia</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Terms</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Call_report" title="Call report">Call report</a></li> <li><a href="/wiki/CAEL_Rating" title="CAEL Rating">CAEL Rating</a></li> <li><a href="/wiki/CAMELS_rating_system" title="CAMELS rating system">CAMELS rating system</a></li> <li><a href="/wiki/Thrift_Financial_Report" title="Thrift Financial Report">Thrift Financial Report</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Banking_in_the_United_States" title="Banking in the United States">Banking in the United States</a></li> <li><a href="/wiki/Fair_debt_collection" title="Fair debt collection">Fair debt collection</a></li> <li><a href="/wiki/History_of_central_banking_in_the_United_States" title="History of central banking in the United States">History of central banking in the United States</a></li> <li><a class="mw-selflink selflink">Wildcat banking</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, 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