The act that allowed banks, securities firms and insurance companies to affiliate under common ownership is which of the following?

Question

Quizplus · Accepted Answer

The Gramm-Leach-Bliley Act of 1999, also known as the Financial Services Modernization Act, repealed parts of the Glass-Steagall Act and allowed commercial banks, investment banks, securities firms, and insurance companies to affiliate under common ownership. The Interstate Banking and Branching Efficiency Act, passed in 1994, allowed banks to branch into other states but did not impact affiliations between different types of financial institutions.

The Act That Allowed Banks, Securities Firms and Insurance Companies