Joseph W. McIntosh was a United States

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 Comptroller of the Currency from 1924 to 1928.

Joseph W. McIntosh, appointed Comptroller by President Calvin Coolidge

Calvin Coolidge

John Calvin Coolidge, Jr. was the 30th President of the United States . A Republican lawyer from Vermont, Coolidge worked his way up the ladder of Massachusetts state politics, eventually becoming governor of that state...

, was a banker who had served with distinction in World War I

World War I

World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...

.

The passage of the McFadden Act

McFadden Act

The McFadden Act is a United States federal law, named after Louis Thomas McFadden member of the United States House of Representatives and Chairman of the United States House Committee on Banking and Currency, enacted in 1927 from recommendations made by the comptroller of the currency Henry May...

in 1927 brought major changes to the national banking system. National banks could consolidate with state banks under certain conditions. They could establish branches under specified limitations, but only within the limits of the city or town of the parent bank. National bank charters became perpetual unless terminated by voluntary liquidation or receivership. McIntosh became a banker and businessman after his term as Comptroller.