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Chapter_1_-_Banking_and_the_Financial_Services_Industry -...

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Chapter 1 – Banking and the Financial Services Industry Glass Steagall Act 1934? – 3 lines of financial services Commercial Banking Investment Banking Insurance Bank Holding Act of 1956 – limited banks to specific types of business activities McFadden Act of 1927 – let states’ own rules about commercial bank branching inside and outside its home state Different tiers of banking
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Unformatted text preview: • Global Banks – B of A, Citi, JP Morgan Chase • Super Regionals – Wells Fargo, PNC, US Bancorp, (Wachovia) • Community Banks – Bank of the Orient, Liberty Bank, Mechanics Gramm-Leach-Bliley Act of 1999 – repealed the restrictions on banks affiliating with security firms under Glass-Steagall Act. Credit Crisis of 2007-2009...
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