Washington Watch: The End of Glass-Steagall
Traders Magazine, November 1999
The Financial Services Act of 1999 is the single most important piece of securities, banking, and insurance industry legislation passed by Congress since the Great Depression. Among the provisions, the bill:
* Repeals restrictions on bank holding companies in the Glass-Steagall Act, and amends the Bank Holding Company Act of 1956 to allow mergers and acquisitions among banks and securities firms and insurance companies, subject to regulatory review.
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