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Encyclopedia of Finance pp 307–313Cite as

Gramm-leach-bliley act: Creating a new bank for a new millenium

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Abstract

The Gramm-Leach-Bliley Act (GLBA) was signed into law on November 12, 1999 and essentially repealed the Glass-Steagall Act (GSA) of 1933 that had mandated the separation of commercial banking activities from securities activities. It also repealed provisions of the Bank Holding Company Act (BHCA) of 1956 that provided for the separation of commercial banking from insurance activities. The major thrust of the new law, therefore, is the establishment of a legal structure that allows for the integration of banking, securities and insurance activities within a single organization. The GLBA will be explained and discussed, with special emphasis on its importance for U.S. banks in a world of ever increasing globalization of financial services.

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Author information

Authors and Affiliations

  1. Auburn University and Milken Institute, Auburn, USA

    James R. Barth

  2. Auburn University, Auburn, USA

    John S. Jahera

Authors
  1. James R. Barth
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  2. John S. Jahera
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Editor information

Editors and Affiliations

  1. Rutgers University, New Brunswick/Piscataway, USA

    Cheng-Few Lee

  2. San Francisco State University, San Francisco, USA

    Alice C. Lee

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© 2006 Springer Science+Business Media, Inc.

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Barth, J.R., Jahera, J.S. (2006). Gramm-leach-bliley act: Creating a new bank for a new millenium. In: Lee, CF., Lee, A.C. (eds) Encyclopedia of Finance. Springer, Boston, MA. https://doi.org/10.1007/978-0-387-26336-6_28

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  • DOI: https://doi.org/10.1007/978-0-387-26336-6_28

  • Publisher Name: Springer, Boston, MA

  • Print ISBN: 978-0-387-26284-0

  • Online ISBN: 978-0-387-26336-6

  • eBook Packages: Business and Economics

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