The Glass-Steagall Act was passed in 1933 by congress. This act was a response to the failure of many banks during the great depression. It is intended to prevent commercial banks from engaging in the investment business. This act was passed days of President Roosevelt taking office in March of 1933. This act took effect so quickly because it was an emergency legislation and they needed results as so as possible.
The Dobb-Frank Wall Street reform act was passed after a financial crises in 2008. This act is intended to prevent the excessive risk-taking that led to the crises. It also acts as a new consumer’s watchdog. This new watchdog is meant to keep mortgage companies and pay-day lenders from taking advantage of consumers. This act was essentially
The Dobb-Frank Wall Street reform act was passed after a financial crises in 2008. This act is intended to prevent the excessive risk-taking that led to the crises. It also acts as a new consumer’s watchdog. This new watchdog is meant to keep mortgage companies and pay-day lenders from taking advantage of consumers. This act was essentially