Financial Legislation: The Promise and Record of the Financial Modernization Act of 1999
AbstractOn November 12, 1999, President Clinton signed the most significant piece of financial services regulation to be enacted since the Great Depression, at least up to that time. When the Financial Service Modernization Act of 1999, better known as the Gramm-Leach-Bliley Act (GLBA), was signed, the financial services industry faced strong pressures for deregulation of the rigid structure imposed during the Great Depression. During the 2007-08 financial crises and ensuing debate regarding financial services regulation, the GLBA became a target as members of the financial sector, academia and government considered possible triggers that may have precipitated the crisis.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 24609.
Date of creation: 01 Aug 2010
Date of revision:
Glass-Steagall Act; Dodd-Frank Act; financial regulation; financial crisis.;
Find related papers by JEL classification:
- K20 - Law and Economics - - Regulation and Business Law - - - General
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-09-11 (All new papers)
- NEP-BAN-2010-09-11 (Banking)
- NEP-LAW-2010-09-11 (Law & Economics)
- NEP-REG-2010-09-11 (Regulation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- George Benston, 2000. "Consumer Protection as Justification for Regulating Financial-Services Firms and Products," Journal of Financial Services Research, Springer, vol. 17(3), pages 277-301, September.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, volume 1, number 8973.
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