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> In 1933, the U.S. Congress passed the Glass–Steagall Act mandating a separation between commercial banks, which take deposits and extend loans, and investment
by jahlove 7y ago
> In 1933, the U.S. Congress passed the Glass–Steagall Act mandating a separation between commercial banks, which take deposits and extend loans, and investment banks, which underwrite, issue, and distribute stocks, bonds, and other securities.
https://en.wikipedia.org/wiki/1933_Banking_Act https://en.wikipedia.org/wiki/1933_Banking_Act
- forkexec 7y agoIt was repealed in 1999. https://en.wikipedia.org/wiki/Aftermath_of_the_repeal_of_the_Glass%E2%80%93Steagall_Act https://en.wikipedia.org/wiki/Aftermath_of_the_repeal_of_the...