The charter for the 2nd BUS was coming up for renewal and Henry Clay (Jackson’s Chief political opponent) wanted to make it an election issue in 1832
Jackson saw the BUS as only serving the interests of the wealthy and was suspicious of the bank’s president, Nicholas Biddle.
After Jackson won reelection in 1832, he moved to destroy the BUS. Jackson withdrew all federal funds from the BUS and put them in state banks called “pet banks” by his critics. This would foster the beginnings of a economic crisis.