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Glass–Steagall Act (1933)

A Dictionary of Business and Management | 2006 | 365 words | Copyright

Glass–Steagall Act (1933) US legislation that separated commercial banking and securities operations by banks. It was introduced in the aftermath of the great stock-market crash of 1929 to lessen the likelihood of such panics occurring again. It has been extensively modified in recent years, most notably by the Financial Services Modernization Act (1999).

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