The Glass-Steagall Act

A) was created in 1933 to divide commercial banking from investment banking.
B) allowed banks to become more diverse in the investments they were allowed to make.
C) made U.S.banks similar to the "universal banks" of continental Europe.
D) created conflicts of interest between commercial banks and investment banks.

Glass-Steagall Act

A 1933 law creating a regulatory firewall between commercial and investment banking sectors to prevent financial crises.

Investment Banking

A segment of banking that specializes in providing various financial-related and advisory services to individuals, corporations, and governments in relation to underwriting, capital raising, merger, and acquisition, and other transactions.

Universal Banks

Financial institutions that offer a wide variety of banking services, including both commercial and investment services.