Financial modernization: vastly different or fundamentally the same?

Edward G. Boehne

Business Review, 2000, issue Jul, 3-14

Abstract: The Financial Modernization Act (Gramm-Leach-Bliley), passed by Congress last fall, represents another step in dismantling a regulatory structure established almost 70 years ago. Just what far-reaching consequences will enactment of this legislation have? In this article, Ed Boehne looks at five questions about banking industry trends in relation to implementation of Gramm-Leach-Bliley. In the end, Boehne argues, the financial services industry will be different in terms of its structure and delivery systems. Nevertheless, it will remain fundamentally the same in one important way: the underpinning of a stable and successful financial system has been, and will continue to be, public confidence.

Keywords: Banks and banking; Gramm-Leach-Bliley Act (search for similar items in EconPapers)
Date: 2000
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