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What types of insurance products were commercial banks permitted to offer before 1999? How did the Financial Services Modernization Act of 1999 change this? How

What types of insurance products were commercial banks permitted to offer before 1999? How did the Financial Services Modernization Act of 1999 change this? How have nonbanks managed to exploit the loophole in the Bank Holding Company Act of 1956 and engage in banking activities? What law closed this loophole? How did insurance companies circumvent this law?

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