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Simple English definitions for legal terms

Glass–Steagall Act

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A quick definition of Glass–Steagall Act:

The Glass-Steagall Act is a law that was created to protect people who put their money in banks. It stops banks from doing things like owning companies that sell stocks or helping people buy and sell stocks. This law was made in 1933 and is also called the Banking Act of 1933.

A more thorough explanation:

The Glass–Steagall Act, also known as the Banking Act of 1933, is a federal law that aims to protect bank depositors by limiting the securities-related activities of commercial banks. Specifically, the law prohibits banks from owning brokerage firms or engaging in the brokerage business.

For example, under the Glass–Steagall Act, a commercial bank cannot offer investment services or sell securities to its customers. It also cannot own a brokerage firm or engage in any activities related to buying or selling securities.

The purpose of the Glass–Steagall Act is to prevent conflicts of interest and protect the stability of the banking system. By separating commercial banking from investment banking, the law aims to prevent banks from taking excessive risks with their customers' deposits.

glass ceiling | glebae ascriptitii

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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