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It banned commercial banks from involvement in buying and selling stocks, and set up the FDIC.

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2y ago
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12y ago

The Glass-Steagall Act of 1933 improved the stability of the U.S. banking system. Among other provisions, it created the Federal Deposit Insurance Corporation (FDIC), which at the time guaranteed individual bank deposits up to $5,000.

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11y ago

The Federal Deposit Insurance Corporation (FDIC) which insures private deposits in federally-chartered banks.

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Q: What did the Glass-Steagall Act create?
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