1933 Banking Act aka "Glass–Steagall Act" (jun 16, 1933 – 13h 26min, apr 25, 2024 y)
Description:
Long title "An Act to provide for the safer and more effective use of the assets of banks, to regulate interbank control, to prevent the undue diversion of funds into speculative operations, and for other purposes."
Nicknames Banking Act of 1933; Glass–Steagall Act (especially when referring to the separation of commercial and investment banking in Sections 16, 20, 21, and 32)
Enacted by the 73rd United States Congress
Effective June 16, 1933
The Banking Act of 1933 (Pub.L. 73–66, 48 Stat. 162, enacted June 16, 1933) was a statute enacted by the United States Congress that established the Federal Deposit Insurance Corporation (FDIC) and imposed various other banking reforms.[1] The entire law is often referred to as the Glass–Steagall Act, after its Congressional sponsors, Senator Carter Glass (D) of Virginia, and Representative Henry B. Steagall (D) of Alabama. The term Glass–Steagall Act, however, is most often used to refer to four provisions of the Banking Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms.[2] That limited meaning of the term is described in the article on Glass–Steagall Legislation.
https://en.wikipedia.org/wiki/1933_Banking_Act#Glass_bills
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