The 1999 Gramm-Leach-Bliley Act allowed banks to:
A)engage in subprime lending.
B)sell insurance.
C)become more involved in investment bank activities.
D)underwrite government bonds.
E)choose between commercial and investment bank activities.

Question

Quizplus · Accepted Answer

The Gramm-Leach-Bliley Act of 1999 repealed the Glass-Steagall Act of 1933, which had prohibited banks from engaging in investment banking activities. This allowed banks to become more involved in investment bank activities, such as underwriting securities and providing financial advice.

The 1999 Gramm-Leach-Bliley Act Allowed Banks To