The Gramm-Leach-Bliley Act a) repealed depression era laws separating commercial banking,...

Question:

The Gramm-Leach-Bliley Act

a) repealed depression era laws separating commercial banking, insurance, brokerage and investment banking.

b) allowed Citigroup to keep Salomon Smith Barney, Travelers, and CitiBank together as one entity.

c) did not take away the ability of the Federal Reserve to impose restriction on banks.

d) all of these are true.

GLBA:

The question calls for familiarity of the Gramm-Leach-Bliley Act of 1999 (GLBA), which is also known as the Gramm-Leach-Bliley Financial Services Modernization Act. Passed by Congress on November 12, 1999, the GLBA's primary objective was to modernize the financial industry, largely through the repeal of the Glass-Steagall Act of 1933.

Answer and Explanation: 1

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The answer is "d) all of these are true." The Gramm-Leach-Bliley Act explicitly and/or implicitly effected all of the items listed. The...

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