The passage of _______________________ Act in the United States allowed various combinations of bank-nonbank financial services and permitted banks,insurance companies,and securities firms to acquire each other.

Question

Quizplus · Accepted Answer

The Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act, was passed in 1999 and allowed for the consolidation of banks, insurance companies, and securities firms. This repealed parts of the Glass-Steagall Act, which had previously separated commercial and investment banking. The other answer choices do not pertain to this particular legislation.

The Passage of _______________________ Act in the United States Allowed