In a move that may reinvigorate discussion about the separation between commercial and investment banking, Rep. Marcy Kaptur (D-Ohio) and 25 of her Democratic colleagues recently introduced legislation to reinstate and expand provisions of the Glass-Steagall Act of 1933.
The bill proposes to restrict affiliations between commercial and investment banks, in a manner described in the Banking Act of 1933. It also would make technical and conforming revisions to the Gramm-Leach-Bliley Act, which repealed key provisions of Glass-Steagall in 1999.
Find out more details about the legislation.