Explorando la banca en EE.UU.: Un viaje por su historia y función.

Exploring Banking in The U.S.: A Journey through Its History and Function.

Welcome to this journey of knowledge! As part of our series of articles, today we will begin by understanding the foundations of banking in the United States. Join us on this journey as together we discover how banks work in this country and how they differ from other systems around the world.

A Brief Journey through Time: History of Banking in the U.S.

Banking in the United States began in colonial times. Although the concept of banking was primitive at the time, over time, banks became fundamental institutions for the economic growth of the country. During the 19th century, we lived through many changes together: from the “First Bank of the United States” to the creation of the Federal Reserve in 1913, which still supervises and regulates many other banks in the country today.

The Heart of Banking: Its Main Function

Like a heart pumping blood, banks move money in the economy. These institutions collect our savings and, in turn, lend it to those who need it to buy homes, start businesses or grow their enterprises. In addition, they offer us services such as currency exchange, transfers and payments, making our daily lives easier.

Comparing to the Neighborhood: Banks in the U.S. vs. the World

While each country has its own banking system, in the U.S., banks are highly regulated to protect our interests. Unlike many Latin American banking systems, where central banks may play a more central role, here in the U.S., banking is predominantly private. In addition, technology plays a key role, with a growing trend toward online and mobile banking.

In the Next Chapter of Our Journey….

Today we took our first step into the vast world of U.S. banking. As we continue this journey together, we will discover more about how to make the most of the resources and services offered by these institutions. We invite you to continue to join us on this learning journey. Until next time!

 

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