There have been two “Banks of the United States”, both chartered by Congress and both allowed to expire after 20 years.
The First Bank of the United States lasted from 1791 to 1811, the second from 1816 to 1836.
Each served as the federal government’s fiscal agents and repositories of federal funds.
The banks were intended to help stabilize fiscal and monetary conditions and were favored by urban commercial interests.
The banks were opposed by farmers, entrepreneurs, and state banks, a coalition that helped ensure their demise.