The Securities and Exchange Commission was created during the Great Depression to restore public trust in financial markets after the 1929 crash.

Watch former Securities and Exchange Commission Chair Gary Gensler's 'Eras Tour' for the agency's 90th anniversary, a look back on the pivotal moments in the agency's history.

Watch a breakdown of 'The Volcker Rule,' which stopped banks from being able to make trades with client money and is one of the most controversial financial regulations to date.

No institution wields more power in US finance than the Federal Reserve, the central bank of the US—but opinion polls indicate that most Americans don't know what it does.

Passed in 2010 in the fallout of the Great Recession, the Dodd-Frank Wall Street Reform and Consumer Protection Act was the most significant financial reform since the Great Depression.

How is credit reporting regulated in the US?

While the three main credit bureaus and the credit scoring companies aren't government entities, they are subject to certain US government regulations, such as the Fair Credit Reporting Act.

The Federal Reserve is the most powerful financial institution in the US

The Fed controls the money supply, determines interest rates, and regulates the banking system. Established in 1913 after a volatile series of financial panics, the central bank has managed to retain its legitimacy despite broad critiques against its obscure and independent decision process.

Learn about the bodies that govern the US commercial airline industry, such as the FAA

The Federal Aviation Administration (FAA) regulates US air travel, monitoring both safety and advancement. But despite deregulation in the 1970s, the industry has other governing bodies, too, including the US Department of Transportation and the TSA.

Prior to the creation of the Securities and Exchange Commission, the 1913 Pujo Committee determined that 180 people were managing more than $22B—a large slice of the entire nation's wealth—and recommended extensive regulations.

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.

Annuities are regulated at the state level

However, certain types of annuities, like indexed annuities, are also nationally regulated by the SEC and the Financial Industry Regulatory Authority to protect investors.

The Glass-Steagall Act separated commercial banks in the US from investment banks

In 1933, the Glass-Steagall Act legally separated commercial banks in the US from investment banks. However, by 1999, the act was repealed—meaning that today’s investment banks are no longer required to be separate from the type of bank where you deposit your paycheck.

The Dodd-Frank Act increased banks' capital requirements and established the Consumer Financial Protection Bureau.

Learn about the essential Securities and Exchange Commission filing types, including S-1, 10K, 10Q, and 8-K.

The Federal Reserve follows the health of the US economy by tracking the money supply

That includes all of the physical and electronic money in circulation. It tracks not only US coins and bills, but also the money that moves through bank deposits. The Fed uses metrics called trackers to follow different types of transactions through the money supply.

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.

To avoid a total collapse of the housing market, the US government took control of the two leading mortgage companies, Fannie Mae and Freddie Mac.

When the New York Stock Exchange was started in 1792, traders would meet both outside on the street and in coffee shops to do business.

The Federal Open Market Committee is a 12-member voting body that sits within the Fed

The committee meets every six weeks to decide whether to maintain, raise, or lower the federal funds rate, which determines all lending costs in the US. It consists of the seven permanent central board members, the president of the New York Fed, and four rotating heads of the other 11 regional banks.

Visualize the balance sheets of US banks

The US banking industry is the most profitable in the world, with loans and leases driving the lion’s share of those profits. In fact, at the end of 2022, 53% of all bank assets fell into the loan and lease category. This rich visualization makes sense of that and highlights how traditional banks operate in stark contrast from their not-for-profit credit union peers. See it here.

Congress has the power to enact laws related to bankruptcy, thanks to the US Constitution

It has done just that since 1800. This legislation, which outlines the various types of bankruptcy filings, has evolved over time. The most recent iteration is the Bankruptcy Reform Act of 1978, which introduced Chapter 11 filings in an effort to make the process easier for businesses and individuals.

Track how much the US government has spent on bailouts.

The term 'securities' refers to different types of investments, such as stocks or bonds.

BlackRock played an integral role in the Federal Reserve's response to the Great Recession, managing about $30B of hard-to-sell Bear Stearns assets on behalf of the New York Fed.

Treasury bonds, notes, and bills are critical vehicles for the federal government to raise money for public expenses and manage the national debt.

The shadow banking system is a group of intermediaries that operate outside of normal banking regulations

The nonbank financial intermediaries that make up the shadow banking system legally provide services that are similar to those of traditional commercial banks. Although the term isn't used as often as it once was, private credit firms are technically part of the shadow banking system, as are hedge funds, payday lenders, buy now, pay later companies, and more.

The central bank was designed to operate free of short-term political influence to prevent the Fed from making disastrous policy decisions

Although the Fed Chair and the six other Governors of the Board are appointed by the US president and approved by Congress, the Fed is not funded by congressional appropriation, and its board members are appointed to lengthy 14-year terms.

BankFind is a tool that helps you find current and former FDIC-insured banking institutions

The tool from the Federal Deposit Insurance Corporation (also known as the FDIC) allows users to search for these institutions by name, location, and more.

BlackRock sponsored the Federal Reserve's purchasing of corporate debt through exchange-traded funds during the COVID-19 pandemic, while it simultaneously sold some of its own shares on the secondary market—sparking controversy over potentially unfair advantages.

The Fed operates within the open market as a competitive bidder of interest rates

Because it’s viewed as a risk-free platform to earn interest, whatever rate it sets becomes the default benchmark. To maintain its target rate prescribed by the Federal Open Market Committee, the Fed has various tools it offers both commercial banks and home loan institutions.

If the US government paid off its debt, it could disrupt the entire bond market, as Treasury bonds are among the most common bonds for investors and the majority of the national debt is in bonds.

Central banking in the US has had a fraught political history

That history includes its doomed early efforts in the First and Second National Banks, as well as its failure to address the worst financial period in US history, the Great Depression.

Read the Federal Trade Commission's legal definition of a monopoly

The Federal Trade Commission and the US Department of Justice (DOJ) Antitrust Division are the regulatory agencies responsible for overseeing antitrust laws. Before deeming any company a monopoly or acknowledging monopolistic power in a market, the FTC conducts thorough research into market competition, price, and even other competitors' business practices.

Read more about how the IRS is organized

The Internal Revenue Service is led by a commissioner, who leads the IRS for a five-year term after being selected by the president of the United States. Under the commissioner, the IRS has multiple subdivisions that work on different tax groups, such as the Wage and Investment Division to handle individual wage earners.

In the SEC vs. Jarkesy ruling of 2024, the Supreme Court overturned the Securities and Exchange Commission's ability to seek civil penalties for securities fraud in-house, which significantly scaled back the agency's enforcement capabilities.

After Bernie Madoff's nearly $65B Ponzi scheme was exposed, the Securities and Exchange Commission was widely criticized for being inattentive and overly lax for not having caught the fraud earlier.

The history of bankruptcy in the US dates back to the signing of the Constitution

In 1787, this founding document gave Congress the right to establish nationwide bankruptcy laws. Legislators took advantage of that power in 1800 when they passed the Bankruptcy Act of 1800, the first comprehensive bankruptcy law at the federal level.

Visualize the differences between the New York Stock Exchange and the Nasdaq.