GrammLeach-Bliley brought the statute more in line with marketplace changes rather than creating opportunities for entry to new markets. Many view the lack of large mergers across different segments of the industry as an indication that the act has failed to achieve its objectives.
As a result, it is probably the case that most bank holding companies that wanted to engage in securities dealing were already doing so before the passage of Gramm-Leach-Bliley. Also, though banks have engaged in selling insurance for some time, it is not clear that many of them are really interested in underwriting insurance.