Independent Banker - November 2017 - 11

LEAD FWD Summit kicks off
November 6
Now in its fi fth year, the ICBA LEAD FWD
Summit brings together community banking
leaders from across the United States. This
year's educational event takes place in St. Louis
on November 6 and 7. Participants will learn
new strategies for maximizing bank ROI and
explore leadership strategies, technology trends
and social media infl uencing in an active-learning environment. After
the summit, attendees will be better equipped to attract new business
and engage with current customers via social media, minus the regulatory
and legal risks. Not attending this year's event? Then be sure
to communicate with someone who is, so you can fi nd out what you
missed.
Learn more at icba.org/leadfwd.
Timeline: A brief history of US currency
1836
1739
To counteract
counterfeiting,
Benjamin Franklin's
printing fi rm
produces
colonial
notes with
raised
nature
prints
made from
real leaves.
1785
The US dollar
becomes America's
offi cial
monetary unit.
With no US central
bank, private banks
issue their own paper
currency, leading to a
counterfeiting crisis.
Notable quote
" Granting SoFi's
application would set
a precedent that a
wide variety of other
fi ntech companies
may choose to follow even
though concerns related to
fi nancial inclusion, consumer
benefi ts, supervision and
regulation of such entities are
still unresolved. "
-REP. MAXINE WATERS (D-CALIF.), HOUSE
FINANCIAL SERVICES COMMITTEE
1862
1865
The front and back of a threepence
note of paper currency
issued by the Province of
Pennsylvania and printed by
Benjamin Franklin in 1764.
1877
The Treasury's
Bureau of Engraving
and Printing
starts printing all
US currency.
1913
The Federal
Reserve Act of
1913 issues new
currency called
Federal Reserve
notes. The country
claims the Federal
Reserve as its
central bank.
1929
The Federal Reserve
standardizes the
design of US bank
notes to make it
easier to identify real
and counterfeit bills
and reduces their
size by 30 percent to
lessen manufacturing
costs.
The Bureau of Engraving and Printing
independentbanker.org ICBA IndependentBanker
11
US Notes ($2, $50
and $100) replace
Demand Notes and
feature engraved
lines and signatures,
intricate lathe
work and the US
Department of
the Treasury
seal.
The US Secret
Service is established
to deter
counterfeiters
and to increase
the public's
confi dence in US
currency.
The first $1 bill was issued in 1862 as a Legal Tender Note.
1990
To deter counterfeiting,
a security thread
and microprinting
are introduced to
all denominations
of Federal Reserve
notes except $1 and
$2 bills.
1990s-2000s
More secure
banknotes ($100,
$50, $20, $10 and
$5) are issued and
feature subtle color
changes, glowing
security threads and
hidden watermarks.

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Independent Banker - November 2017

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