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 Most importantly, the Gramm-Leach-Bliley Act repealed provisions of the 1933 Glass-Steagall Act that prohibited banks from participating in both commercial banking and investment banking.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


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
©2004-2015 Investor Glossary - All rights reserved - Terms of Use