Regulation and the Future of Banking
The future of banking cannot be discussed without talking about regulation. Simply put, regulation is what has defined banking as we know it. For more than 60 years, the Glass-Steagall Act has defined what a banking organization has been allowed to do; the Douglas and other bank holding company acts have defined the corporate form required to do it; the national or state banking authorities, deposit insurance agencies, and Federal Reserve have defined how to do it; and their supervisors and examiners have tried to ensure that it was done that way.
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