Answer to Question #302702 in Finance for Andrick Angel

Question

Explain the anti competitive conduct in the banking industry as provided by the banking and financial services Act of 1994

Answer 1

The 1994 Act was enacted to regulate the conduct of banking and financial services, to protect investors and clients of banks and financial institutions, and to address concerns related to or incidental to the foregoing. This act reflects the outcomes of some significant acquisitions and consolidations, which have resulted in the formation of large banks with branches across the globe; currently, this act is in effect in the rest of the world. The de novo branches are not authorized to be established under this law until the single states approve it. During the years 1995 to 1999, the performance of large banks improved.