“ To enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, insurance companies, and other financial service providers, and for other purposes. ”
Summary
“Gramm-Leach-Bliley Act”, is a work by . It explores elements such as Subtitle, affiliates and insurance.
Quotes from Gramm-Leach-Bliley Act ()
“ Use of subordinated debt to protect financial system and deposit funds from `too big to fail' institutions. Sec. 109. Study of financial modernization's effect on the accessibility of small business and farm loans. Subtitle B—Streamlining Supervision of Bank Holding Companies Sec. 111. Streamlining bank holding company supervision. Sec. 112. Authority of State insurance regulator and Securities and Exchange Commission. Sec. 113. Role of the Board of Governors of the Federal Reserve System. Sec. 114. Prudential safeguards. Sec. 115. Examination of investment companies. ”
“ Consideration of merchant banking activities by financial subsidiaries. Subtitle D—Preservation of FTC Authority Sec. 131. Amendment to the Bank Holding Company Act of 1956 to modify notification and post-approval waiting period for section 3 transactions. Sec. 132. Interagency data sharing. Sec. 133. Clarification of status of subsidiaries and affiliates. Subtitle E—National Treatment Sec. 141. Foreign banks that are financial holding companies. Sec. 142. Representative offices. Subtitle F—Direct Activities of Banks Sec. 151. Authority of national banks to underwrite certain municipal bonds. ”
