Wildcat bank
The term Wildcat Bank refers to a particularly unsound and risky bank chartered under state law in the United States. They flourished after the national bank was decommissioned. Someone would start a bank in a small town, and when they acquired enough assets, they would up and leave town with the townsfolks' money. The debt, which hurt many people, eventually became a reason for the "Panic of 1857."
See also
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