Tag: Commercial and investment banking activities
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What are The Glass-Steagall Act of 1933 and the Gramm-Leach-Bliley Act of 1999?
The Glass-Steagall Act of 1933 and the Gramm-Leach-Bliley Act of 1999 are two important laws that have shaped the banking industry in the United States. The Glass-Steagall Act, also known as the Banking Act of 1933, was passed as a response to the financial crisis of the 1930s. It aimed to prevent banks from engaging…