Gramm–Leach–Bliley Act
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The Gramm–Leach–Bliley Act, also known as the Financial Services Modernization Act of 1999, is an Act of the 106th United States Congress. It repealed part of the Glass–Steagall Act of 1933, removing
Sen. Phil Gramm (R–Texas), Rep. Jim Leach (R–Iowa), and Rep. Thomas J. Bliley Jr. (R–Virginia), the co-sponsors of the Gramm–Leach–Bliley Act
Thomas J. Bliley Jr.
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Thomas Jerome Bliley Jr. was an American businessman, Navy veteran, and politician who served as a U.S. Representative from the Commonwealth of Virginia. From 1981 to 2001, he served ten consecutive t
Gramm–Leach–Bliley Act
…one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. With the passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate. Furthermore, it failed to give to the…
Official portrait, c. 1999