The law that allowed banks to engage in investment banking was the

Question

Quizplus · Accepted Answer

The Gramm-Leach-Bliley Act of 1999 repealed parts of the Glass-Steagall Act and allowed banks to engage in investment banking activities. Therefore, the correct choice is A. The Glass-Steagall Act, option B, was the law that separated commercial and investment banking before its repeal. The McFadden Act, option C, prohibited national banks from branching across state lines. The Garn-St. Germain Act, option D, was a law enacted in the 1980s that allowed savings and loans associations to engage in more speculative activities.

The Law That Allowed Banks to Engage in Investment Banking