Coogan casually mentions in his history of Visa video, that when Bank Americard first launched, banks couldn't do business across state lines. It seems like these rules were ended by the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 signed by Bill Clinton.
Sometimes when discussing 20th century forms of American Elites vs 21st century forms, the notion seems to come up that 20th century elites seemed more anchored into local communities than their 21st century counter parts.
I wonder how much things like each state needing its own banking infrastructure contributed toward the cultivation of local elites. Alabama needed bankers. Alaska needed bankers. Arizona needed bankers. Arkansas needed bankers. And by bankers I don't just mean branch managers.
