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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
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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 Repealed portions of the Glass- Stegall Act to allow banks to perform some investment and insurance related activities Step by Step Solution
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