FT MarketWatch

Glass-Steagall Act

1933 Congressional law which authorized deposit Insurance and prohibited commercial banks from owning Brokerage. The latter rule has softened, and many banks NOW own discount Broker, Sell mutual Fund, and participate in Underwriting.

Related Terms: 13 Authorize, Broker, Brokerage, Commercial bank, Discount broker, Fund, Insurance, Merc, Mutual fund, NOW, Own, Sell, Underwriting
Other Related Pages: Category: Insurance Starting With: G
Semi Related Terms: 552 CLICK HERE TO VIEW