Question

Question 1 of 10 The purpose of the Glass-Steagall Act was to:

A. stabilize American banks.
B. protect bank deposits.
C. give low-interest loans to businesses.
D. create laws to regulate stock trading. ​

Answer 1

B

Step-by-step explanation:

The Glass-Steagall Act effectively separated commercial banking from investment banking and created the Federal Deposit Insurance Corporation, among other things. It was one of the most widely debated legislative initiatives before being signed into law by President Franklin D. Roosevelt in June 1933.