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sammy [17]
4 years ago
5

What did the Glass-Steagall Act do?

History
2 answers:
mel-nik [20]4 years ago
8 0

Answer:

The 1933 Glass-Steagall Act separated investment banking from retail banking. After their separation, the retail banks got the prohibition to use depositors´ funds for risky investments. Retail banks accepted deposits, managed checking accounts, and issued loans. Investment banks organized the primary sales of stocks, what economists call initial public offering. The law granted power to the Federal Reserve to regulate retail banks what was a positive development for better monetary policy.

Explanation:

emmasim [6.3K]4 years ago
8 0

Answer: It provided for the creation of a federal bank to act as the banker to banks

Explanation:

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