The process of electronic funds transfer was approved in the US in 1978

Key moments in fintech history include the transatlantic cable’s invention and E-Trade’s founding

Founded in 1982, E-Trade was the first-ever online brokerage, pioneering a method of investing that is common today. Its story is part of a timeline that the New York Times put together of key moments in early fintech history.

Explore a visual timeline of fintech’s history and growth

From the debut of the world’s first ATM in 1967, to Apple Pay launching in 2014, financial technologies have come a very long way in a relatively short historical period. A colorful visual timeline highlights some of the most important milestones along the way.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Congress mandated that the Fed streamline check payments

When it was first created in the 1910s, the Federal Reserve System became a crucial link between the nation's regional banks. The increasing number of checks used by the thousands of banks across the nation required a central operator, and the Fed was uniquely positioned to help. Learn more about the role the Fed played in the history of checks.

ATMs drastically expanded access to checking accounts in the 1960s

The invention disrupted the local bank industry, allowing customers to access cash around the clock and when out of town. The innovation also reduced the headcount needed for bank services and created a new revenue stream via ATM fees for noncustomers. This 50-year anniversary retrospective revisits the cash kiosk.

Mutual funds were first created and sold in the US in 1924

Mutual funds were created in 1924, became popular in the '80s and '90s when investors saw a better payoff. Since then, they’ve evolved to be one of the most popular investment options today.

Consumers will use digital payment processing for nearly $40T in spending by 2028

That's just one signal of the industry's massive growth. Investments in the global fintech industry have grown from $4B in 2010 to $92.3B in 2021, as both businesses and consumers seem to quickly adopt new fintech products, from digital payment apps to robo-advisers.

The Federal Transit Administration distributes roughly $20B annually to support local transportation

Created by the Urban Mass Transportation Act in 1964, the FTA funds and oversees the roughly 2,200 transit systems that receive federal support across the US, covering everything from subway capital investment to rural bus service.

The United States had a washing machine that cleaned dirty dollar bills

In the early 1900s, the US Treasury Department had a machine that washed and ironed old, soiled paper bills. The machine helped the Treasury save money by decreasing printing costs for new dollar bills, but had nothing to do with the modern understanding of money laundering.

In 2025, the 'two strikes and you're out' rule took effect to protect consumers from repeated attempts to withdraw money

After years of being delayed by litigation, a 2024 US Supreme Court ruling upheld a law that prevents lenders from attempting to take payments from accounts with insufficient funds more than twice without reauthorization. This tactic is commonly used by payday loan companies, which technically require repayment on the day borrowers receive their paychecks.

Watch a video that visualizes what really happens inside a credit card network when you make a purchase.

Every tap sets off a lightning-fast relay. When someone buys coffee with their Visa, a tiny "runner" races between the coffee shop's bank, Visa's network, and their bank—all in under a second. The catch? No money has actually moved yet. Here's what really happens behind that instant "Approved."

How the US first installed an electronic fence along the southern border

The US Border Patrol's first automated surveillance system launched in 1970 with 177 ground sensors installed along a single section in California. The sensors had already been used in Vietnam, along the so-called McNamara Line, and were connected by radio transmitters to magnetic-tape computers. They were implemented to target people defined by law and deportable aliens.

Paper check usage is down 83% over 25 years

At the start of the millennium, more than 68 million checks were processed daily. Amid the adoption of automated clearinghouse (ACH) payment systems, that number has sunk to 12 million a day.

The SEC recently approved bitcoin ETFs in landmark investing decision

In January 2024, the US Securities and Exchange Commission made history when it decided to allow fund issuers to launch bitcoin ETFs. This new class of exchange-traded fund tracks spot bitcoin prices, essentially allowing investors to hold bitcoin without actually having to buy the crypto.

Transistors are the foundation of electronic signal processing

Small amounts of voltage can allow or block the flow of electrons across a transistor made from modified layers of semiconducting materials. The conducting (1) and insulating (0) states can be quickly modified as binary code is processed in a computer system.

US women got the right to open a credit card in their own name in 1974

Before that year, banks in the US were legally allowed to deny women credit or charge them higher interest if they failed to get a male cosigner.

Voting in the US has shifted from days-long journeys to modern, secure ballots

In the early 1800s, voting was limited and arduous, often requiring long travel and in-person balloting. This illustrated resource traces how voting technology evolved to expand access, speed elections, and improve security over time.

Periodically, the Federal Open Market Committee decides whether to raise, hold, or lower the federal funds rate

The federal funds rate is the interest rate at which banks lend their excess funds through the Fed. This influences what banks are willing to pay consumers for their deposits in savings and CD accounts. Typically, the higher the federal funds rate, the higher the interest rates on CDs.

The flow of electricity in AC circuits flips back and forth, unlike DC circuits

Alternating currents in the US change the flow direction 120 times every second, allowing for efficient transformation and transmission of energy across power grids by sending energy at lower currents. This is changed into one-way direct currents when powering electronics.

USB connectors for universal data transfer debuted in 1996

Since the introduction of USB 1.0 by a consortium of companies, data transfer speeds have steadily increased from 1.5 megabits per second to 40 gigabits per second as of 2019. Variations in USB connector types enable them to be used for applications and devices that require different speeds and power.

The US dollar is the official currency of the United States and is the most circulated currency around the world

The US dollar was established in 1792 and comes in the form of coins or paper money. It's considered one of (if not the most) stable currencies in the world due to America’s strong and robust economy, as well as its relatively stable government.

IFA 1931 hosted the first public TV demonstration

In 1931, Manfred von Ardenne presented his cathode ray tube television to the public for the first time, marking the first public demonstration of fully electronic TV. This article examines his breakthrough and the evolution of television technology since.

COBOL was partly derived from Grace Hopper's FLOW-MATIC programming language

The Common Business-Oriented Language was developed for business data processing, supporting precise decimal calculations and an English-like syntax. Able to work across operating systems and hardware environments, COBOL and its newer versions support 80% of in-person credit card transactions and 95% of all ATM transactions.

The history of the National Science Foundation Network, a precursor of the internet

Although ARPANET connected various national laboratories and supercomputing facilities by the 1970s to facilitate scientific collaboration, the system was slow and required highly trained operators. The launch of NSFNET in 1986 provided a more flexible and powerful network that went on to connect over 170 academic and research communities and link to its European counterpart, EASInet.

See a timeline of the IRS's history, including the introduction of standard deductions and the digitization of the filing process

The Commissioner of Internal Revenue was created in 1862 to take over federal tax collection after the President enacted a temporary income tax. That agency eventually became today's Internal Revenue Service.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Commodity trading is regulated by the CFTC to mitigate fraud and risk

Established in 1974, the CFTC regulates these markets (including swaps, futures, and certain types of options) to protect market participants from fraud, ensure fair trading conditions, and generally reduce financial risk.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

The USPS spent $3.97B in 2024, accounting for .058% of the federal budget.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

'Shogun,' a 1980s TV series, helped popularize sushi in the US by stimulating an American interest in Japanese culture.

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

Ebola is a filovirus, meaning it resembles a thread under a microscope, though it sometimes twists and can resemble a bowl of spaghetti.

Experimental hantavirus vaccines and therapies, still under development, have long been funded by the US military.

Despite being favored by 87% of Americans, Congress does not have term limits.

English mathematician Ada Lovelace wrote the first computer algorithm a century before computers existed and hypothesized that computing devices would one day be able to compose music—foreseeing the generative AI systems of today.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

How fusion—which releases energy when two lighter atoms combine to form a heavier atom—differs from fission

A century of Billboard issues documenting the evolution of popular music.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Watch this video that uses Lego bricks to explain how venture capital works.

View the ten deadliest tornadoes in US history.

Watch contemporary footage covering the US-backed Shah of Iran fleeing the country in the face of the 1979 Iranian Revolution

The first horror movie is believed to be George Méliès' 1986 short 'The Haunted Castle,' which pioneered the use of special effects

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

Sony set the standard for cylinder-shaped batteries when it repurposed manufacturing equipment used to make rolls of magnetic recording tape.

The American cockroach is actually from Africa, an apparent hitchhiker aboard ships carrying enslaved people, with evidence suggesting the bug may have arrived in the New World as early as the 1600s.