   
|
|
|
|
|
|
| |
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 Most importantly, the Gramm-Leach-Bliley Act repealed provisions of the 1933 Glass-Steagall Act that prohibited banks from participating in both commercial banking and investment banking.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...
|
|
|
|
 |
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: in escrow, stock split, deferred revenue, implied volatility, cancelled check, FICO score, wholly-owned subsidiary, required rate of return, phantom income, 401a, risk management, average price per share, annual return, margin rate, 144a, ex-dividend, 1031 exchange, ex-dividend date, class C shares, covered put, liquidity ratio, retained earnings, debt service coverage, VIX, current ratio, open position, diluted share, option premium, balance sheet, limit order, deferred tax, inflation, reverse mortgage, 1035 exchange, FTSE, LIBOR, per diem, dividends payable, stock market close, irrevocable trust, Key Rate Duration, APR, real GDP, EBITDA, minority interest, labor relations, Zero Cost Collar, quality assurance, command economy
|
|
| |
