President Clinton is expected to sign the Gramm-Leach-Bliley Act of 1999 today. The financial reform law is expected to have a major impact on cross-industry mergers, customer privacy, and lending to lower-income communities. After 20 years of trying, Congress in late October reached a deal on a compromise bill, which the Senate approved Nov. 4 on a 90-8 vote and the House later that day by 362 to 57.
Here are the highlights of the legislation. Cross-Industry Affiliations