What is the Congressional act,enacted in 1933 and repealed in 1999,which prevented financial firms from being both commercial banks and investment banks?

Question

Quizplus · Accepted Answer

The Glass-Steagall Act, also known as the Banking Act of 1933, separated commercial and investment banking, preventing financial firms from being both. It was enacted in response to the 1929 stock market crash and the Great Depression to protect bank depositors and prevent risky investments. The act was repealed in 1999, which some argue contributed to the 2008 financial crisis.

What Is the Congressional Act,enacted in 1933 and Repealed in 1999,which