1. The Banking Act of 1933
The FDIC insured customer accounts, and it also stopped banks from being able to accept deposits and underwriting securities at the same time. Banking institutions were given a year to decide whether to become commercial banks, which could accept customer deposits in checking and savings accounts, or investment banks, which could engage in the riskier business of corporate underwriting, involving the purchase of new securities from the corporate issuers and their resale to the public.... Stocks lose value. ...
- Word Count: 858
- Approx Pages: 3
- Has Bibliography
- Grade Level: High School