The 1999 Financial Services Modernization (Gramm-Leach-Bliley) Act has aided the trend of ____ by permitting banks, insurers and securities firms (as well as selected other financial firms) to reach across industry boundaries and link up with each other.
A) Service diversification
B) Globalization
C) Financial disintermediation
D) Convergence
E) Homogenization
Correct Answer:
Verified
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