The Pecora Commission's findings about the 1929 stock market crash resulted in the
A)Financial Services Modernization Act.
B)Glass-Steagall Act.
C)Federal Reserve Act.
D)International Banking Act.
E)Garn St.Germain Depository Institutions Act.

Question

Quizplus · Accepted Answer

The Pecora Commission's findings led to the passing of the Glass-Steagall Act in 1933. The act separated commercial banks from investment banks to prevent conflicts of interest and to protect depositors' money. The Financial Services Modernization Act (also known as Gramm-Leach-Bliley Act) was passed in 1999 and repealed parts of the Glass-Steagall Act. The Federal Reserve Act was passed in 1913 and established the Federal Reserve System. The International Banking Act was passed in 1978 and regulated foreign banks in the U.S. The Garn St. Germain Depository Institutions Act was passed in 1982 and deregulated savings and loan associations.

The Pecora Commission's Findings About the 1929 Stock Market Crash