What was one purpose of the Glass-Steagall Act, which was part of Franklin Roosevelt's First New Deal? To prohibit commercial banks from engaging in investment banking To require federal agencies to assess and evaluate banking practices To place commercial banks under temporary federal jurisdiction To allow banks to form independent financial holding companies
What was one purpose of the Glass-Steagall Act, which was part of Franklin Roosevelt's First New Deal? To prohibit commercial banks from engaging in investment banking To require federal agencies to assess and evaluate banking practices To place commercial banks under temporary federal jurisdiction To allow banks to form independent financial holding companies
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![What was one purpose of the Glass-Steagall Act, which was part of Franklin
Roosevelt's First New Deal?
To prohibit commercial banks from engaging in investment banking
To require federal agencies to assess and evaluate banking practices
To place commercial banks under temporary federal jurisdiction
To allow banks to form independent financial holding companies](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffed00806-5a00-487b-bfe9-f2c27225e696%2F9afc34bc-9ec9-47b1-a7ed-bc1efce91967%2Fxf3gio_processed.png&w=3840&q=75)
Transcribed Image Text:What was one purpose of the Glass-Steagall Act, which was part of Franklin
Roosevelt's First New Deal?
To prohibit commercial banks from engaging in investment banking
To require federal agencies to assess and evaluate banking practices
To place commercial banks under temporary federal jurisdiction
To allow banks to form independent financial holding companies
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