He criticized the banks because of many reasons the following are just a few-
- he believed it was unconstitutional
- he believed it concentrated an excessive amount of the nation's financial strength into a single institution
- he believed it exposed the government to control by "foreign interests"
- he believed it exercised too much control over members of the Congress
- he believed it favored Northeastern states over Southern and Western states
- he believed its goal was to make the rich people richer