The _______________________ established the U.S. central banking system and increased the effectiveness of commercial banking in general.

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The Federal Reserve Act, passed in 1913, established the U.S. central banking system and increased the effectiveness of commercial banking in general. The Glass-Steagall Act (1933) separated commercial and investment banking, the National Banking Act (1863) created a system of federally chartered banks, and the Garn-St. Germain Act (1982) deregulated the savings and loan industry.

The _______________________ Established the U