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10 October, 18:36

Which act permitted the creation of full-service financial institutions that could engage in in banking, insurance, and securities activities?

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  1. 10 October, 18:54
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    Financial Services Modernization Act

    Explanation:

    The Financial Services Modernization Act also called The Gramm-Leach-Bliley Act was enacted in 1999 and it removed barriers that prohibited an insitution to act as a combination of investment bank, commercial bank and insurance company. This law allowed companies in the financial industry to integrate their operations. According to this, the act that permitted the creation of full-service financial institutions that could engage in banking, insurance, and securities activities was the Financial Services Modernization Act.
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