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Legislation makes major changes in acceptable combinations of financial firms

机译:立法对可接受的金融公司组合做出重大修改

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The Gramm-Leach-Bliley Act of 1999 eliminates Depression-era constraints on mergers of banks, securities firms, and insurance companies, making it easier for a single firm to supply a wide array of financial services to consumers and businesses. Thelegislation also allows most rural banks to join the Federal Home Loan Bank System for access to long-term funds that can be loaned for housing, agriculture, and small business purposes. resident Clinton signed Public Law 106-102, the Gramm-Leach-BlileyAct of 1999 (GLB), into law on November 12, 1999. This legislation reforms the financial industry by allowing banks, securities firms, and insurance companies to merge so that consumers and businesses can purchase all of their financial services from the same company. GLB also addresses other issues of concern to rural lenders, businesses, and consumers, such as access by rural banks to funds from the Federal Home Loan Bank System, moving rural deposits to urban areas, combining commercial firms and banks, and privacy of personal financial information.
机译:1999年的《格拉姆-里奇-比利利法案》消除了大萧条时期对银行,证券公司和保险公司合并的限制,使一家公司更容易为消费者和企业提供广泛的金融服务。该法律还允许大多数农村银行加入联邦住房贷款银行系统,以获取可用于住房,农业和小型企业目的的长期贷款。居民克林顿于1999年11月12日签署了第106-102号公共法律,即1999年的《格拉姆-里奇-布莱利法案》(GLB),成为法律。该立法通过允许银行,证券公司和保险公司合并以使消费者成为消费者来改革金融业并且企业可以从同一家公司购买其所有金融服务。 GLB还解决了农村贷方,企业和消费者所关注的其他问题,例如农村银行从联邦住房贷款银行系统获得资金,将农村存款转移到城市地区,将商业公司和银行合并在一起以及个人理财的私密性信息。

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