The Glass Steagall Act President Roosevelt signed into law was repealed. See who swept aside the banking firewall protections on the 12th of November 1999. The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, is an act of the 106th United States Congress (1999-2001), signed into law by President Clinton which repealed part of the Glass-Steagall Act of 1933, opening up the market among banking companies, securities companies and insurance companies. The Glass-Steagall Act prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and/or an insurance company. The Gramm-Leach-Bliley Act allowed commercial banks, investment banks, securities firms and insurance companies to consolidate. www.govtrack.us www.govtrack.us www.nytimes.com www.nytimes.com www.nytimes.com www.nytimes.com www.time.com www.time.com www.time.com www.c-spanarchives.org www.jameslavin.com en.wikipedia.org
Posts Tagged ‘ Repealed ’
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