Commercial banks were for many years prohibited from full-fledged investment banking by the:

Name: Commercial banks were for many years prohibited from full-fledged investment banking by the:
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The Glass-Steagall Act, passed in 1933, separated commercial and investment banking activities, and prohibited commercial banks from engaging in full-fledged investment banking activities. This law was in effect until it was partially repealed by the Gramm-Leach-Bliley Act in 1999.

Commercial Banks Were for Many Years Prohibited from Full-Fledged Investment