Until 1999, the ________ Act(s) prohibited banks in the United States from both accepting deposits and underwriting securities.
A) Sarbanes-Oxley
B) Glass-Steagall
C) SEC
D) Sarbanes-Oxley and SEC
E) None of the options

Question

Quizplus · Accepted Answer

The Glass-Steagall Act, enacted in 1933, prohibited commercial banks from engaging in the investment business, effectively separating the activities of accepting deposits and underwriting securities. This regulation was partially repealed in 1999 by the Gramm-Leach-Bliley Act.

Until 1999, the ________ Act(s) Prohibited Banks in the United