3 Introduction Banking & Financial Systems is written especially to introduce s teens to the business of banking. Concepts about banking operations, the Federal Reserve, customer services, and other relevant topics are presented to provide an understanding of how banks function within society. Banking & Financial Systems prepares students to be competent s consumers and employees. This text is divided into fi ve units. Unit 1 introduces the business of banking. Unit 2 discusses money and banking regulations, including the role of the Federal Reserve. Unit 3 covers services customers need, such as savings, lending, and making payments. Unit 4 discusses the management aspects of the banking business. Finally, Unit 5 provides an overview of the history of banking, including the fi nancial crises of the early 21st century, and discusses the future of banking. Progressing through this text, many opportunities are offered to learn about the banking industry and how it has evolved, new offerings to its clients, and avenues for a future potential career. A new learning tool has been provided to help students study. QR codes are provided to use with a smartphone to go directly to selected text activities. About the Authors Biz Kid$ is a national financial education–based initiative whose fi foundation is the Emmy Award-winning public television series that teaches kids and young adults about money and business. The series has also been given the Environmental Media Award for Outstanding Children’s Television, the Silver Telly Award for Outstanding Financial Education Series and it has been recognized for Excellence in Contributions for Financial Literacy Education by the Council on Economic Education. Contributing Authors Maria Townsley is an educator and a professional writer in business and education. She has written or edited many published books that teach business concepts and tools to students and business professionals. Cheryl McGaughey is currently an instructor of Finance at Angelo State University in Texas and serves as chairman of the board of a Texas credit union. She has over 30 years experience teaching fi nance. Matt Fontaine has been writing for a variety of organizations, businesses, and publications in the Pacifi c Northwest since 2001. He wrote his fi rst economics text in 2006 and has worked closely with fi Biz Kid$ since 2009.