1933 Congressional law which authorized deposit insurance and prohibited commercial banks from owning brokerages. The latter rule has softened, and many banks now own discount brokers, sell mutual funds, and participate in underwritings.
Related information about Glass-Steagall Act:
- Glass–Steagall Act - Wikipedia, the free encyclopedia
The Glass–Steagall Act is a term often applied to the entire Banking Act of 1933, after its Congressional sponsors, Senator Carter Glass (D) of Virginia, and ...
- Glass-Steagall Act (1933) News - The New York Times
News about the the Glass-Steagall Act. Commentary and archival information about the Glass-Steagall Act of 1933 from The New York Times.
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Jul 16, 2003 ... Established in 1933 and repealed in 1999, the Glass-Steagall Act had good intentions but mixed results.
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An act passed by Congress in 1933 that prohibited commercial banks from collaborating with full-service brokerage firms or participating in investment banking ...
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May 8, 2003 ... A chronology tracing the life of the Glass-Steagall Act, from its passage in 1933 to its death throes in the 1990s, and how Citigroup's Sandy ...
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Aug 4, 2012 ... The repeal of the Glass-Steagall Act in 1999 didn't cause the financial crisis, but that and the push for deregulation made it worse.
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Sep 17, 2012 ... The economy should work for Americans, not just Wall Street CEOs.