Danner City Bank, a commercial bank in Oklahoma, was suffering from financial losses. Once the U.S. government passed the _____ in 1999, the bank started recovering from its losses as it was allowed to sell its securities.

Question

Quizplus · Accepted Answer

The Gramm-Leach-Bliley Act, passed in 1999, allowed commercial banks to engage in securities and insurance activities, which helped banks like Danner City Bank recover from financial losses by expanding their services.

Danner City Bank, a Commercial Bank in Oklahoma, Was Suffering