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by Projectiboga
401 days ago
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The Glass-Steagall Act, enacted in 1933, was partially repealed in 1999 by the Gramm-Leach-Bliley Act (GLBA). Specifically, the GLBA repealed sections 20 and 32 of the Glass-Steagall Act, which had prohibited affiliations and interlocks between commercial and investment banks. This allowed financial institutions to engage in both commercial and investment banking activities, which was seen as a step towards universal banking. |
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