The Pecora Commission led to the passage of legislation, which was revised in the Garn-Saint Germain Act of 1982. This legislation's Regulation Q allowed the Federal Reserve to regulate interest rates on savings accounts, but
The Pecora Commission led to the passage of legislation, which was revised in the Garn-Saint Germain Act of 1982. This legislation's Regulation Q allowed the Federal Reserve to regulate interest rates on savings accounts, but was repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Huey Long led a filibuster against this legislation, and one of its namesakes was a Virginia Senator who had served as the Secretary of the Treasury under Woodrow Wilson. Some of this legislation was repealed by the 1999 Gramm-Leach-Bliley Act, an action which has been partially blamed for contributing to the current financial crisis. For 10 points, name this 1933 New Deal legislation which created the Federal Deposit Insurance Corporation.
The Pecora Commission led to the passage of legislation, which was revised in the Garn-Saint Germain Act of 1982.
{Glass}-{Steagall} Act of 1933 [or {Banking} Act of 1933]