The _______________________ was designed to reduce or eliminate interest rate limitations and increase access to various sources of funds available to banks and thrifts and expand the Federal Reserve's control over thrifts and non-member banks.

Question

Quizplus · Accepted Answer

The Depository Institutions Deregulation and Monetary Control Act was passed in 1980 as an effort to reduce or eliminate interest rate limitations and increase access to various sources of funds available to banks and thrifts. It also expanded the Federal Reserve's control over thrifts and non-member banks. The Glass Steagall Act, Gramm-Leach-Bliley Act, and Garn-Saint Germain Act were all significant banking laws, but were not specifically designed for the purposes described in the question.

The _______________________ Was Designed to Reduce or Eliminate Interest Rate