In addition, the improved analytical capacity offered by new technology, better coordination among domestic and international bank supervisors, a healthy track record for U.S. banks, and the growth of consolidated home-country supervision across the world helped U.S. banks and their affiliates to further expand their commercial activities. The response of Congress was essentially threefold.
First, it moved the separation wall between banking and commerce to reflect what had already occurred in the marketplace: Gramm-Leach-Bliley also addressed the broader question of what types of businesses could own or affiliate with banks by allowing companies to own banking, securities, and insurance entities within a structure known as a financial holding company.