In the United States, retail and investment banks were barred from being under the same corporate umbrella by the:

Question

Quizplus · Accepted Answer

The Glass-Steagall Act, enacted in 1933, established a barrier between commercial banking and investment banking in the United States, effectively prohibiting banks from engaging in both types of business under the same corporate structure. This separation was intended to reduce the risk of financial crises but was partially repealed by the Gramm-Leach-Bliley Act in 1999.

In the United States, Retail and Investment Banks Were Barred