Once again, it appears that Congress will seriously consider reforming the banking law provisions, known as the Glass-Steagall Act, that have separated commercial banking and investment banking since 1933.

This has, of course, happened periodically throughout the 1980s and early 1990s without material progress. The most recent significant effort occurred early in the Reagan administration, when the Treasury study was completed and the Treasury prepared legislation to deregulate banking, including repeal of the Glass-Steagall Act.

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