Economics, Econometrics and Finance
4 years ago

Gramm-Leach-Bliley Act Boosts Financial Industry, Reduces Systematic Risk.

SSRN Electronic Journal
The Impact of the Gramm-Leach-Bliley Act on the Financial Services Industry
Abdullah Al Mamun, M. Kabir Hassan, Van Son Lai

Paper Summary

The Gramm-Leach-Bliley Act had a positive impact on the financial services industry. Commercial banks benefited the most, followed by insurance companies. Larger firms in banking and insurance gained more. The law also reduced systematic risk for all sectors of the financial services industry.

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