The legislation that overturned the prohibition on interstate banking is
A)the McFadden Act.
B)the Gramm-Leach-Bliley Act.
C)the Glass-Steagall Act.
D)the Riegle-Neal Act.

Question

Quizplus · Accepted Answer

The Riegle-Neal Act of 1994 was the legislation that overturned the prohibition on interstate banking, allowing banks to acquire branches and other banks in other states. The McFadden Act was passed in 1927 and prohibited banks from branching across state lines. The Glass-Steagall Act separated commercial and investment banking activities and was repealed in 1999. The Gramm-Leach-Bliley Act repealed some provisions of the Glass-Steagall Act but did not address interstate banking.

The Legislation That Overturned the Prohibition on Interstate Banking Is