• Discussed history of the American Banking System
  • Time to read Chapter 8 through 8.3
  • Showed differences and similarities between a bank and a credit union (structure & functions)
    • Discussed checking, savings, and CD’s
    • Principal, Interest, risk, and FDIC insurance
    • Commercial & consumer loans
    • Mortgages
    • Looked at MSGCU and Chase
  • Discussed M1 & M2 and liquidity from 8.2