Four senators yesterday re-introduced what they called the “21st Century Glass-Steagall Act,” a bill that would reintroduce barriers between commercial and investment banking. The bill, sponsored by Sens. Elizabeth Warren (D-Mass.), John McCain (R-Ariz.), Maria Cantwell (D-Wash.) and Angus King (I-Maine), would prohibit FDIC-insured depository institutions from engaging in insurance, securities or swaps activity or to be affiliated with any such entity.
Four senators yesterday re-introduced what they called the “21st Century Glass-Steagall Act,” a bill that would reintroduce barriers between commercial and investment banking.
Senators Attempt to Revive Glass-Steagall Limits
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