who deregulated the banking industry?
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Understanding Deregulation In response to the country's greatest financial crisis in its history, Franklin D. Roosevelt's administration enacted many forms of financial regulation, including the Securities Exchange Acts of 1933 and 1934 and the U.S. Banking Act of 1933, otherwise known as the Glass-Steagall Act.
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In March 2000, The Royal Bank of Scotland Group completed the acquisition of NatWest in a £21 billion deal that was the largest take-over in British banking history. NatWest is now part of one of the world's largest financial services groups.
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In 1816, Congress chartered The Second Bank of the United States. In 1818, the state of Maryland passed legislation to impose taxes on the bank. James W. McCulloch, the cashier of the Baltimore branch of the bank, refused to pay the tax.
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The Trustee Savings Bank (TSB) was a British financial institution. ... In 1995, the TSB merged with Lloyds Bank to form Lloyds TSB, at that point the largest bank in the UK by market share and the second-largest (to HSBC, which had taken over the Midland Bank in 1992) by market capitalisation.
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Many historians distinguish between a First New Deal (1933–1934) and a Second New Deal (1935–1936), with the second one more liberal and more controversial. The First New Deal (1933–1934) dealt with the pressing banking crises through the Emergency Banking Act and the 1933 Banking Act.
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Westpac acquisition of BT Westpac Banking Corporation wholly acquired BT Financial Group (BT) in 2002. As one of Australia's leading investment managers BT currently manages and administers over $95 billion1 in funds through managed investments, superannuation and retirement products, Wrap platforms and margin lending.
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Bush Administrations in particular made de-regulation of capital movement a high priority on their international economic policy agendas. Financial liberalization has been the most direct, and probably the single biggest, factor accounting for the growth of international investment flows over the past several decades.
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['Acquiring banks have to handle the burden of weaker banks.', 'It is difficult to manage the people and culture of different banks.', 'Merger destroys the idea of decentralization as many banks have a regional audience to cater to and customers often respond very emotionally to a bank acquisition.']
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Basel III is a 2009 international regulatory accord that introduced a set of reforms designed to mitigate risk within the international banking sector, by requiring banks to maintain proper leverage ratios and keep certain levels of reserve capital on hand.
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Retail banking refers to the division of a bank that deals directly with retail customers while corporate banking is the part of the banking industry that deals with corporate customers. Retail banking is the visible face of banking to the general public, with bank branches located in abundance in most major cities.
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The weaknesses of the banking industry include the following: Lack of worldwide coordination. ... Fluctuating currencies and exchange rates can also be trouble for banks. Old technology leads to vulnerabilities.
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Sudhir Budhia : A Nationalized bank is one that is owned by the government of the country. ... A private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals. In short, the bank is owned by someone else and they run the bank.
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Regulation E provides guidelines for consumers and banks or other financial institutions in the context of electronic funds transfers. These include transfers with automated teller machines (ATMs), point-of-sale transactions, and automated clearing house (ACH) systems.
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It provided investment banking, trading, investment management, private banking, research, brokerage, private equity, and associated services. Lehman Brothers' failure placed the subprime mortgage crisis of 2007-2009 prominently into the public eye and presaged the deepening of the Great Recession.
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Sudhir Budhia : A Nationalized bank is one that is owned by the government of the country. ... The government is responsible for the money deposited into the accounts of these banks. A private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals.
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It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.
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Tamilnad Mercantile Bank was the first private sector bank in India to introduce computerisation for branch-level operations. The bank adopted modernization as early in the year 1983. Today all 509 branches of the bank are networked using Infosys's "FINACLE" Software and have achieved 100% connectivity.