All banks in the US are chartered by either a state government or the federal government. Federally chartered banks, or' National bank's, are overseen by the Comptroller of the Currency of the US Treasury. All national banks are members of the Federal Reserve System and are insured by the Federal Deposit Insurance Corporation (FDIC). The US's dual banking system of federally- and state-chartered banks was established by the National Banking Act of 1863, which created the new system of federally chartered banks in an attempt to put state-chartered banks out of business. State banks have survived, however, and the two banking systems co-exist.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). national bank. Retrieved September 30, 2026, from http://smartdefine.org/national_bank/definitions/1158769 |
| Chicago | Barry Goldsmith. 2010. "national bank" http://smartdefine.org/national_bank/definitions/1158769 (accessed September 30, 2026). |
| Harvard | Barry Goldsmith 2010, national bank, Smart Define, viewed 30 September, 2026, <http://smartdefine.org/national_bank/definitions/1158769>. |
| MLA | Barry Goldsmith. "national bank" 21 October 2010. Web. 30 September 2026. <http://smartdefine.org/national_bank/definitions/1158769> |