A restriction on bank activities that was repealed in 1999 was
A)the prohibition of the payment of interest on checking deposits.
B)restrictions on credit terms.
C)minimum down payments on loans to purchase securities.
D)separation of commercial banking from the securities industries.

Question

Quizplus · Accepted Answer

The restriction that was repealed in 1999 was the separation of commercial banking from the securities industries, also known as the Glass-Steagall Act. This allowed commercial banks to engage in investment banking activities and vice versa. The other choices are not relevant to the repeal of the Glass-Steagall Act.

A Restriction on Bank Activities That Was Repealed in 1999