Industry WIKI

The Glass–Steagall Act was a part of the 1933 Banking Act. It placed restrictions on activities that commercial banks and investment banks (or other securities firms) could do. It effectively separated those activities, so the two types of business could not mix, in order to protect consumer's money from speculative use. The Banking Act of 1935 clarified and otherwise amended Glass–Steag

There have been several efforts or appeals in the United States to reinstate repealed sections of the Glass–Steagall Act following the 2008 financial crisis, as well as elsewhere to adopt similar financial reforms.