Overview
Access this book
Tax calculation will be finalised at checkout
Other ways to access
About this book
With almost 6,300 commercial banks, significantly more than in any other country, the world of US banking is unique, fascinating, and always in flux. Two principal pieces of legislation have shaped the banking structure in this country: The McFadden Act of 1927, which prohibited banks from branching into other states, and The Glass-Steagall Act of 1933, which separated commercial and investment banking activities. The repeal of the Glass-Steagall Act in 1999 was one of the main contributing factors behind the global financial crisis of 2008. This measure resulted in the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which once again prohibited commercial banks from making certain types of speculative investments. The Changing Face of American Banking analyzes the impact of both these acts - as well as that of their subsequent repeal - in depth, examining the real effects of government regulations on the US commercial banking sector. Ray Chaudhuri pinpoints the evolving nature of US commercial banks and banking regulations and explores their impact on the economy. Instead of just focusing on banks and regulations, this work considers the correlations and causality between banking performance and economic growth and productivity. It also brings the banking literature up to date with the 2008-2009 financial crisis and its aftermath, including the passage of the Dodd-Frank Act of 2010 and its effect on American banking.
Similar content being viewed by others
Keywords
Table of contents (13 chapters)
-
Front Matter
-
Back Matter
Authors and Affiliations
About the author
Ranajoy Ray Chaudhuri is Lecturer int the Economics Department at The Ohio State University, USA.
Bibliographic Information
Book Title: The Changing Face of American Banking
Book Subtitle: Deregulation, Reregulation, and the Global Financial System
Authors: Ranajoy Ray Chaudhuri
DOI: https://doi.org/10.1057/9781137361219
Publisher: Palgrave Macmillan New York
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Ranajoy Ray Chaudhuri 2014
Hardcover ISBN: 978-1-137-36581-1Published: 20 August 2014
eBook ISBN: 978-1-137-36121-9Published: 15 October 2016
Edition Number: 1
Number of Pages: XII, 279
Number of Illustrations: 4 b/w illustrations
Topics: Macroeconomics/Monetary Economics//Financial Economics, Microeconomics, Business Finance, Accounting/Auditing, Banking