The Gramm-Leach-Bliley Act Was Passed in 1999 by the U

question 51

Multiple Choice

The Gramm-Leach-Bliley Act was passed in 1999 by the U.S. Congress to allow:

• A)financial institutions to offer full financial services, such as insurance and investment banking, as well as traditional commercial banking.
• B)financial institutions to be sued by stockholders for off-balance sheet accounting errors.
• C)savings and loans to compete with commercial banks in both the commercial banking arena and mortgage loans.
• D)European banks to acquire U.S. financial institutions.

---

Definitions:

Racism

Discrimination or prejudice directed against someone of a different race based on the belief that one's own race is superior.

Minimizing

The psychological strategy of downplaying or understating the significance of events or emotions, often as a coping mechanism.

Prejudice

An antipathy or negative feeling, either expressed or not expressed, based on a faulty and inflexible generalization that places a group of people at some disadvantage not merited by their actions.

Power

The capacity or ability to direct or influence the behavior of others or the course of events.