Investor Glossary-gramm-leach-bliley actInvestor Glossary-gramm-leach-bliley actInvestor Glossary-gramm-leach-bliley actInvestor Glossary-gramm-leach-bliley actInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Gramm-Leach-Bliley Act

The HTML to link to this page
 

The Gramm-Leach-Bliley Act is a federal banking and securities law passed by Congress on November 12, 1999. The Gramm-Leach-Bliley Act is also referred to as the Financial Services Modernization Act of 1999. Indeed, the Gramm-Leach-Bliley Act has significantly changed the operations and business model of the banking industry defined by the Bank Holding Company Act of 1956 and the 1933 Glass-Steagall Act. Most importantly, the Gramm-Leach-Bliley Act repealed provisions of the 1933 Glass-Steagall Act that prohibited banks from participating in both commercial banking and investment banking. As a result of the Gramm-Leach-Bliley Act, federally regulated banks longer had to choose, they could diversify their activities and offer financial services. The Gramm-Leach-Bliley Act further allowed banks to provide insurance services to its customers. Before the Gramm-Leach-Bliley Act, per the Bank Holding Company Act of 1956, commercial banks were prohibited from underwriting insurance policies. GLBA is the anacronym for the Gramm-Leach-Bliley Act.



Rate this Gramm-Leach-Bliley Act definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: current ratio, quality assurance, labor relations, Key Rate Duration, 1031 exchange, APR, 1035 exchange, open position, LIBOR, phantom income, minority interest, retained earnings, option premium, deferred revenue, class C shares, balance sheet, stock market close, stock split, irrevocable trust, margin rate, average price per share, cancelled check, in escrow, risk management, inflation, FTSE, dividends payable, command economy, required rate of return, Zero Cost Collar, ex-dividend, implied volatility, limit order, 144a, debt service coverage, reverse mortgage, diluted share, wholly-owned subsidiary, per diem, real GDP, covered put, EBITDA, 401a, liquidity ratio, FICO score, ex-dividend date, annual return, VIX, deferred tax


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use