Banking Separation

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August 31, 2024 4 min read Definitions
Glass-Steagall Act: A Pivotal US Financial Legislation
Finance Banking Government Regulations Financial Law Banking Separation Risk Management Great Depression Financial Crisis
The Glass-Steagall Act was a US law enacted in 1933 that separated commercial and investment banking. It aimed to prevent excessive risk-taking in the banking sector, believed to have contributed to the Great Depression. The partial repeal of this act in 1999 is considered a factor leading to the 2008 financial crisis.
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