Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve Question 1 (15 points) Saved What legislation or congressional action resulted in response to the event? 1. Enron and World Com corporate scandals

please solve
image text in transcribed
image text in transcribed
image text in transcribed
Question 1 (15 points) Saved What legislation or congressional action resulted in response to the event? 1. Enron and World Com corporate scandals Gramm-Leach-Bliley Act (1999) 2. After two central bank failures, continued chaos in the banking system. 10 Financial Institutions Reform, Recovery and Enforcement Act (1989) 3. The Great Depression; No protection of depositor's funds Consumer Credit Protection Act (1968) and other consumer protection laws 4. Inadequate check collection, inflexible currency, and the pyramiding of reserves 5. Risky mortgage lending practices Sarbanes-Oxley Act (2001) 6. Requires banks to meet the banking needs of the low to middle income citizens in the communities they serve. Gramm-Leach-Bliley Act (1999) privacy provisions Credit CARD Act (2009) 7. Economic expansion, an increase in consumer banking deposits and loans, and demands for social change National Bank Act (1863) 8 Dodd-Frank Wallstreet Reform and Consumer Protection Act (2010) The Great Depression: issues related to underwriting securities 9. September 11, 2001, terrorist attacks on the World Trade Towers in New York City 8 Securities and Exchange Act (1934) Banking Act (1933) 10. The Great Depression: no margin requirements 6 Community Reinvestment Act 11. Savings and loan crisis and bank failures Federal Reserve Act of (1913) 12. Unregulated sharing of customer information to third parties by banks Depository Institutions Deregulation and 13. Public perception that financial Banking Act (1933) 10. The Great Depression: no margin requirements Community Reinvestment Act 11. Savings and loan crisis and bank failures 4 Federal Reserve Act of (1913) 12. Unregulated sharing of customer information to third parties by banks Depository Institutions Deregulation and Monetary Control Act (1980) 13. Public perception that financial products were excessively profitable during economic crisis USA Patriot Act (2001) 14. Disintermediatioon of customer funds to nonbank competitor accounts 2 Banking Act (1935) 15. Repealed portions of the Glass- Stegall Act to allow banks to perform some investment and insurance related activities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economics Of Money Banking And Financial Markets

Authors: Frederic S. Mishkin

7th Edition

0321122356, 978-0321122353

More Books

Students also viewed these Finance questions

Question

=+ (a) Show that if P( An B) Answered: 1 week ago

Answered: 1 week ago

Question

What do you think of the MBO program developed by Drucker?

Answered: 1 week ago