Banking in The United States

Banking in the United States is regulated by both the federal and state governments.

The five largest banks in the United States at December 31, 2011 were JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs. In December 2011, the five largest banks’ assets were equal to 56 percent of the U.S. economy, compared with 43 percent five years earlier.

Banking in the United States

Monetary policy
The Federal Reserve System

Regulation

Lending
Credit card

Deposit accounts
Savings account
Checking account
Money market account
Certificate of deposit

Deposit account insurance
FDIC and NCUA

Electronic funds transfer (EFT)
ATM card
Debit card
ACH
Bill payment
EBT
Wire transfer

Check Clearing System
Checks
Substitute checks • Check 21 Act

Types of bank charter
Credit union
Federal savings bank
Federal savings association
National bank

Read more about Banking In The United States:  Regulatory Agencies, Active Banks of The United States, Bank Mergers and Closures, Antebellum History, Surging Demand For Capital in The Gilded Age, Early 20th Century, New Deal-era Reforms, Bretton Woods System, Automated Teller Machines, Nixon Shock, Deregulation of The 1980s and 1990s, Repeal of The Glass-Steagall Act, Late-2000s Financial Crisis

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    “A sincere and steadfast co-operation in promoting such a reconstruction of our political system as would provide for the permanent liberty and happiness of the United States.”
    —James Madison (1751–1836)

    “One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
    —William Howard Taft (1857–1930)

    “Yesterday, December 7, 1941Ma date that will live in infamy—the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan.”
    —Franklin D. Roosevelt (1882–1945)

    “I would rather be known as an advocate of equal suffrage than to speak every night on the best-paying platforms in the United States and ignore it.”
    —Anna Howard Shaw (1847–1919)