Th United States Banking Act of 1933

Executive Summary

• This placed a separation between investment banking and commercial banking.

Introduction

Often referred to as the Glass Steagall Act, in fact, Glass Steagall is four provisions of the act that deal with the separation of commercial banks from investment banks. The 1933 Banking Act was much more far ranging than just this issue. This was a act that was designed to regulate the banking industry, and was passed with support by the Rockefellers to bring the Bank of Morgan to heel.