What was special about the First Bank of the United States? There was nothing special about it. It was just like every other bank. It existed before all other state banks and had first mover advantage. The US Government used it for official government business. The President of the First Bank was also the President of the United States. QUESTION 9 The US has and banks compared to other countries. Fewer; Smaller More; Larger Fewer; Larger More; Smaller QUESTION 10 All of the following have led to bank consolidation in the US over the last 30 years EXCEPT Repeal of previous legislation Economies of scale Low interest rates Economies of scope What was special about the First Bank of the United States? There was nothing special about it. It was just like every other bank. It existed before all other state banks and had first mover advantage. The US Government used it for official government business. The President of the First Bank was also the President of the United States. QUESTION 9 The US has and banks compared to other countries. Fewer; Smaller More; Larger Fewer; Larger More; Smaller QUESTION 10 All of the following have led to bank consolidation in the US over the last 30 years EXCEPT Repeal of previous legislation Economies of scale Low interest rates Economies of scope