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Article: BestWeek: Impact of Gramm-Leach-Bliley Still Debated 10 Years Later.
- Article from:
- Insurance Weekly News
- Article date:
- November 13, 2009
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Culprit or savior, the Gramm-Leach-Bliley Act is getting a lot of fresh debate for a law that was enacted 10 years ago, according to the latest issue of BestWeek U.S./Canada. Some blame that particular act - the legislation that opened up the financial-services industry to cross-ownership of banks, securities and insurance businesses - for the economic crisis the United States is trying to pull out of. Some credit it with helping form the kind of strong, diversified companies that have been healthy enough to absorb their wayward cousins, BestWeek said.
In BestWeek Europe, the occurrence of a large insurance claim is normally followed by the arrival of a loss ...