The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. The banks are jointly responsible for implementing the monetary policy set forth by the Federal Open Market Committee, and are divided as follows:
The Detroit Free Press is the largest daily newspaper in Detroit, Michigan, US. The Sunday edition is titled the Sunday Free Press. It is sometimes referred to as the Freep. It primarily serves Wayne, Oakland, Macomb, Livingston, Washtenaw, and Monroe counties.
The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued. Today, what was once NBD is owned by JPMorgan Chase & Co.
The Federal Reserve Bank of Kansas City is located in Kansas City, Missouri and covers the 10th District of the Federal Reserve, which includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, and portions of western Missouri and northern New Mexico. It is second only to the Federal Reserve Bank of San Francisco in size of geographic area served. Missouri is the only state with two main Federal Reserve Banks; the other is located in St. Louis.
The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that, along with the Federal Reserve Board of Governors, make up the United States' central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.
Hollywood Casino at Greektown, formerly Greektown Casino-Hotel, is a casino hotel in the Greektown neighborhood in Detroit, Michigan. It is owned by Vici Properties and operated by Penn Entertainment.
Daniel Gilbert is an American billionaire, businessman, and philanthropist. He is the co-founder and majority owner of Rocket Mortgage, founder of Rock Ventures, and owner of the National Basketball Association's Cleveland Cavaliers. Gilbert owns several sports franchises, including the American Hockey League's Cleveland Monsters, and the NBA G League's Cleveland Charge. He operates the Rocket Mortgage FieldHouse in Cleveland, Ohio, home to the Cavaliers and Monsters. As of January 2023, Forbes estimated his net worth at US$18.3 billion.
Citizens Republic Bancorp was an American bank headquartered in Flint, Michigan that merged with FirstMerit Bank in 2013. Citizens Republic Bancorp operated in the states of Michigan, Ohio, Indiana, and Wisconsin. On September 13, 2012, it completed a merger agreement with FirstMerit Bank of Akron, Ohio. As of April 13, 2013, it became a subsidiary of the FirstMerit Corporation. The merger finalized on June 13, 2013. FirstMerit merged with Huntington Bancshares in 2016.
Detroit Media Partnership, L.P. manages the business operations - including production, advertising and circulation - for the two leading Detroit newspapers: The Detroit News and Detroit Free Press. Detroit Media Partnership also handles Detroit-area circulation for The New York Times, USA Today, Investor's Business Daily, and Financial Times.
Edsel Bryant Ford II is the great-grandson of Henry Ford I, grandson of Edsel Ford I, and the only son of Henry Ford II. He served as a member of the board of directors of Ford Motor Company for 33 years before announcing his retirement, and serves on the finance committee and sustainability and innovation committee. He is a cousin of the company's Executive Chairman, William Clay Ford Jr.
1001 Woodward is a 25-floor office building in Downtown Detroit, Michigan. It replaced the Majestic Building, a 14-story high rise on the same site. The building is located just south of the neighboring David Stott Building, at the corner of Woodward Avenue and Michigan Avenue overlooking Campus Martius Park. Constructed from 1963 to 1965, the 25-story building is designed in the International Style. It was listed on the National Register of Historic Places in 2013.
Chrysler House is a 23-story, 99 m (325 ft) skyscraper located at 719 Griswold Street in Downtown Detroit, Michigan. The class-A office building is adjacent to the Penobscot Building in the heart of the U.S. designated Detroit Financial District. It is used as an office building, with retail space on the street level. It was originally known as the Dime Building but has carried numerous names over the years.
Downtown Detroit is the central business district and a residential area of the city of Detroit, Michigan, United States. Locally, downtown tends to refer to the 1.4 square mile region bordered by M-10 to the west, Interstate 75 to the north, I-375 to the east, and the Detroit River to the south. Although, it may also refer to the Greater Downtown area, a 7.2 square mile region that includes surrounding neighborhoods such as Midtown, Corktown, Rivertown, and Woodbridge.
Huntington Bancshares Incorporated is an American bank holding company headquartered in Columbus, Ohio. The company is ranked 521st on the Fortune 500, and is 26th on the list of largest banks in the United States.
The Detroit Public Library is the second largest library system in the U.S. state of Michigan by volumes held and the 21st-largest library system in the United States. It is composed of the Main Library on Woodward Avenue, which houses the library's administration offices, and 23 branch locations across the city. The Main Library is part of Detroit's Cultural Center Historic District listed in the National Register of Historic Places adjacent to Wayne State University campus and across from the Detroit Institute of Arts.
The Federal Reserve Bank of Chicago Detroit Branch Building is a bank building located at 160 West Fort Street in downtown Detroit, Michigan. It was listed on the National Register of Historic Places in 2008.
The unbanked are adults who do not have their own bank accounts. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available.
The Detroit Financial District is a United States historic district in downtown Detroit, Michigan. The district was listed on the U.S. National Register of Historic Places on December 14, 2009, and was announced as the featured listing in the National Park Service's weekly list of December 24, 2009.
TCF Financial Corporation was a bank holding company based in Detroit, Michigan. The current incarnation of the company was formed by a 2019 merger between the former TCF, which was established in 1923 in Wayzata, Minnesota, and the Michigan-based Chemical Financial Corporation. In December 2020, TCF announced a merger with Huntington Bancshares. It was announced on May 26, 2021, that TCF Bank will be required by the Department of Justice to sell off 13 branches in Michigan. These branches were purchased by Horizon Bank at the end of the third quarter. The final approval has been given for the merger and the merger was complete on June 9, 2021. The combined bank has $175 billion in assets.
