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Palgrave Macmillan

The Changing Face of American Banking

Deregulation, Reregulation, and the Global Financial System

  • Book
  • © 2014

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Authors:
  1. Ranajoy Ray Chaudhuri

    1. The Ohio State University, USA

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Table of contents (13 chapters)

  1. Front Matter

    Pages i-xi
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  2. A Brief Chronology of U.S. Banking Regulations

    • Ranajoy Ray Chaudhuri
    Pages 1-6

  3. The Free Banking Era

    • Ranajoy Ray Chaudhuri
    Pages 7-19

  4. The Big Markets: New York and California

    • Ranajoy Ray Chaudhuri
    Pages 21-34

  5. The Little Markets: The Story of Unit Banks

    • Ranajoy Ray Chaudhuri
    Pages 35-42

  6. The Early Days of the Federal Reserve

    • Ranajoy Ray Chaudhuri
    Pages 43-70

  7. The Great Depression and the Glass-Steagall Act

    • Ranajoy Ray Chaudhuri
    Pages 71-82

  8. The Stable Years

    • Ranajoy Ray Chaudhuri
    Pages 83-94

  9. The Housing Market and the Savings and Loan Associations Crisis: The 1980s

    • Ranajoy Ray Chaudhuri
    Pages 95-110

  10. Deregulation and the Great Recession: The 1990s and the 2000s

    • Ranajoy Ray Chaudhuri
    Pages 111-146

  11. Reregulation: The Response to the Financial Crisis

    • Ranajoy Ray Chaudhuri
    Pages 147-184

  12. Wall Street and Main Street: Banking Regulations and the Real Economy

    • Ranajoy Ray Chaudhuri
    Pages 185-200

  13. U.S. Banks and the Global Financial System

    • Ranajoy Ray Chaudhuri
    Pages 201-210

  14. The Road Ahead

    • Ranajoy Ray Chaudhuri
    Pages 211-215

  15. Back Matter

    Pages 217-279
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Keywords

About this book

With almost 6,300 commercial banks, significantly more than in any other country, the world of US banking is unique, fascinating, and always in flux. Two principal pieces of legislation have shaped the banking structure in this country: The McFadden Act of 1927, which prohibited banks from branching into other states, and The Glass-Steagall Act of 1933, which separated commercial and investment banking activities. The repeal of the Glass-Steagall Act in 1999 was one of the main contributing factors behind the global financial crisis of 2008. This measure resulted in the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which once again prohibited commercial banks from making certain types of speculative investments. The Changing Face of American Banking analyzes the impact of both these acts - as well as that of their subsequent repeal - in depth, examining the real effects of government regulations on the US commercial banking sector. Ray Chaudhuri pinpoints the evolving nature of US commercial banks and banking regulations and explores their impact on the economy. Instead of just focusing on banks and regulations, this work considers the correlations and causality between banking performance and economic growth and productivity. It also brings the banking literature up to date with the 2008-2009 financial crisis and its aftermath, including the passage of the Dodd-Frank Act of 2010 and its effect on American banking.

Authors and Affiliations

  • The Ohio State University, USA

    Ranajoy Ray Chaudhuri

About the author

Ranajoy Ray Chaudhuri is Lecturer int the Economics Department at The Ohio State University, USA.

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