US House Of Representatives Votes To Reform Banking Regulations
WASHINGTON DC--As RMO went to press, news broke that the US House of Representatives passed a bill to reform laws outlined in the Glass-Steagall Act of 1933 and the Bank Holding Company Act of 1956 which impose strict regulations governing the segregation of US investment banks, securities trading firms, commercial banks and insurance companies.
The house passed the Financial Services Modernization Bill by a slim 214 to 213 vote. It will allow banks, securities firms and insurers to own each
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