Tag Archives: banking

The History of American Banking: What a Long Strange Road it Has Been


Modern day banking arose in fourteenth century Italy.  Banca Monte dei Paschi di Siena, founded in 1472 in Siena, is currently the oldest operating bank in the world.  The origins of the American banking system date back to 1780 with the founding of the Bank of Pennsylvania in Philadelphia.  Its goal was to provide funding for the Continental Army that was fighting the Revoluti... Read More

U.S. Banks, Evolving

The financial crisis had brought the banks to the center of recent public debates. Banks, large and small, were hit hard by the collapse of the housing bubble and the subsequent disruptions in the credit market. Many are worried that a contraction in lending due to the weaknesses of bank balance sheets had a large negative impact on the real economy.

These observations and concerns motiv... Read More