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jun 1, 1933 - Glass-Steagall Banking Act

Description:

This act was created by Franklin D. Roosevelt with the purpose in mind to have a plan that if a bank goes under, then the people will still have their money. With this came the Federal Deposit Insurance Company (FDIC). The purpose of the FDIC is to provide the economy stability when needed. This act, also, separated commerical banking from investment banking.

Added to timeline:

9 months ago
0
0
89
Addison McKinney
Banking

Date:

jun 1, 1933
Now
~ 85 years ago

Images:

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