Bank of the People Montreal in 1840. Until 1835, every bank in Upper Canada required a legislated charter which established it as a legal person able to sue, and be sued at law. Only two Banks had been chartered: the Bank of Upper Canada and the Commercial Bank of the Midland District. Both banks were controlled by the "Family Compact" who used their control of the currency supply and credit to control trade and ultimately, the farmers. They had a "licensed monopoly" to print paper money, which reduced competition. In 1835, Dr Charles Duncombe, a Reform politician in the Legislative Assembly, was part of
Shanghai Commercial Bank itself in Shanghai with a stake in the Bank of Shanghai. It also advertises, to an extent, its link to Bank of Shanghai and SCSB with the slogan "Bank of Shanghai in 3 regions on both sides of the Strait". SCB was one of the founding banks of JETCO, the Joint Electronic Tellers Services Limited Network back in 1982. The other founding banks were Hong Kong Branch of the Bank of China (now Bank of China (Hong Kong)), the Bank of East Asia, Chekiang First Bank and Wing Lung Bank. JETCO is a peer competitor to another ATM network formed