Bill Clinton promised to veto the Gramm-Leach-Bililey Act unless there was put in the bill a provision for minorities, farmers, and others that had little or no access to credit. Provision was made and the Modernization Act of 1999, signed into law by President Bill Clinton which repealed part of the Glass-Steagall Act of 1933, opening up the market among banking companies, securities companies and insurance companies.
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