The prohibition against banks underwriting corporate securities and engaging in brokerage,real estate,and insurance activities was repealed by the

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The Gramm-Leach-Bliley Financial Services Modernization Act, signed into law in 1999, repealed certain provisions of the Glass-Steagall Act that prohibited banks from engaging in both commercial banking and investment banking activities, such as underwriting corporate securities and acting as brokers or dealers in securities. The Act allowed for greater integration between different types of financial institutions, leading to the creation of larger, more diversified financial conglomerates.

The Prohibition Against Banks Underwriting Corporate Securities and Engaging in Brokerage,real