Morgan Lewis

The Gramm-Leach-Bliley Act: Structural Reform of the Financial Services Industry

By James A. Hunter, Jr., Kathleen W. Collins, John H. Grady, Jr.

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White Paper

  • published on:

    11/16/1999

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On November 12, 1999, President Clinton signed into law 5.900, the “Gramm-Leach-Bliley Act,” P.L. 106-102 (113 Stat. 1338), a measure widely viewed as the most significant single piece of legislation to affect the financial services industry in decades. The Act is the product of multiple architects and it reflects the policy views of many competing, and often conflicting, political and business constituencies. As a result, it contains a number of compromises. Its impact on the structure of the industry will be significant.

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