As a consequence of recent legislation,banks,securities firms,and insurance companies have the right to apply to the Federal Reserve Board to become financial holding companies.

Question

Quizplus · Accepted Answer

Recent legislation has indeed granted banks, securities firms, and insurance companies the option to apply to become financial holding companies, which allows them to engage in a wider range of financial activities. This occurred with the passage of the Gramm-Leach-Bliley Act in 1999.

As a Consequence of Recent Legislation,banks,securities Firms,and Insurance Companies Have