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South Sulawesi Travel on This has led to numerous problems, including bank runs in which too many depositors try to withdraw their money from a shaky bank, thereby causing the bank to fail. Moreover, erratic fluctuations in the money supply are a major cause of the business cycle of boom and bust. History of consumer banks. Consumer banks as we know them today began to evolve in medieval Europe. In the 12th century, deposit banks opened in Italian trading centers such as Venice and Genoa. These banks were not allowed to earn money by loaning deposits and keeping only fractional reserves, but they did facilitate business transactions by transferring money on order from buyers’ to sellers’ accounts. They also allowed some depositors to write overdrafts on their accounts, in effect loaning them money. South Sulawesi Travel 2016.