Part of the reason that the Banking Act of 1933 was passed was in response to the large numbers of bank failures.

Question

Quizplus · Accepted Answer

The Banking Act of 1933, also known as the Glass-Steagall Act, was passed in response to the Great Depression and the large number of bank failures that occurred during that time. It aimed to stabilize the banking system and prevent future failures by establishing the Federal Deposit Insurance Corporation (FDIC) to insure deposits, separating commercial banking from investment banking activities, and increasing government regulation of the banking industry.

Part of the Reason That the Banking Act of 1933