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Chapter 11: Q. 20 (page 316)

What has been the likely effect of the Gramm-Leach Bliley Act on financial consolidation?

Short Answer

Expert verified

This regulation further invigorated the monetary solidification of the financial business. In this way, more monetary consolidations are probably going to happen, which will increment both the size and intricacy of monetary organizations later on.

Step by step solution

01

Concept Introduction 

The Gramm-Leach-Bliley Act (GLBA), passed by US congress in 1999 eliminated the different obstacles and limitations available, particularly of the financial business.

02

Explanation 

Every one of the huge banks needed this demonstration to be breathed easy to support both saving and speculation of the economy. Whenever this act was passed, the financial business united further. This regulation further invigorated the monetary solidification of the financial business. In this way, more monetary consolidations are probably going to happen, which will increment both the size and intricacy of monetary organizations later on.

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