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About: 1933 Banking Act     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Legislation106535222, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: Thingyago:Abstraction100002137yago:CivilLaw108453464yago:Collection107951464yago:Group100031264yago:Law108441203yago:Legislation106535222 New Facet based on Instances of this Class

The Banking Act of 1933 (Pub.L. 73–66, 48 Stat. 162, enacted June 16, 1933) was a statute enacted by the United States Congress that established the Federal Deposit Insurance Corporation (FDIC) and imposed various other banking reforms. The entire law is often referred to as the Glass–Steagall Act, after its Congressional sponsors, Senator Carter Glass (D) of Virginia, and Representative Henry B. Steagall (D) of Alabama. The term "Glass–Steagall Act," however, is most often used to refer to four provisions of the Banking Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms. That limited meaning of the term is described in the article on Glass–Steagall Legislation.