Abstract
The Gramm-Leach-Bliley Act (GLBA) was signed into law on November 12, 1999 and essentially repealed the Glass-Steagall Act (GSA) of 1933 that had mandated the separation of commercial banking activities from securities activities. It also repealed provisions of the Bank Holding Company Act (BHCA) of 1956 that provided for the separation of commercial banking from insurance activities. The major thrust of the new law, therefore, is the establishment of a legal structure that allows for the integration of banking, securities and insurance activities within a single organization. The GLBA will be explained and discussed, with special emphasis on its importance for U.S. banks in a world of ever increasing globalization of financial services.
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© 2013 Springer Science+Business Media New York
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Barth, J.R., Jahera, J.S. (2013). Gramm-Leach-Bliley Act: Creating a New Bank for a New Millenium. In: Lee, CF., Lee, A. (eds) Encyclopedia of Finance. Springer, Boston, MA. https://doi.org/10.1007/978-1-4614-5360-4_3
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DOI: https://doi.org/10.1007/978-1-4614-5360-4_3
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