C. the US government allowed commercial banks to own stock and sell insurance policies.
Explanation:
The Gramm-Leach-Bliley Act (GLBA) of 1999 basically repealed or revoked or cancelled the Glass-Steagall Act of 1933. The Glass-Steagall Act of 1933 forbids the commercial banks to own stock and sell insurance policies. So basically by cancelling that Glass-Steagall Act of 1933, the GLBA of 1999 allowed the commercial banks to own stock and sell insurance policies.
