Born in England and raised in Royal Oak Michigan. Soft-spoken and well-mannered midget racer. Banks had a reputation of being both easy on the equipment and fast.

Banks was the first driver to pass a 'Rookie test' at Indy when it was implemented for the 1936 race. He drove as a relief driver in the '37,'39 & '40 Indy races.

In 1947 he won 30 midget features. He won the ARDC east coast championship in 1941.

After retiring from racing Banks became the second director of competition for the newly formed USAC series.