jan 1, 1999 - Gramm-Leach-Biley Act (GLB)
Description:
In response to increase in integrated financial services
Each segment is regulated on its own
Banks cannot form subsidiaries to underwrite insurance (they can create insurance affiliates)
This is to prevent using insurance assets to offset banking losses
Banks must disclose information-sharing policies
Added to timeline:
Exam 6 - History of Insurance
Date:
