Federal Reserve Grants Citigroup Temporary Waiver for Glass-Steagall Violation
In September 1998, the Federal Reserve Board granted Citicorp a temporary waiver allowing its merger with Travelers Group, effectively circumventing the Glass-Steagall Act and Bank Holding Company Act. This strategic regulatory maneuver created Citigroup, the first ‘universal bank’ since …
Federal Reserve
Alan Greenspan
Citicorp
Travelers Group
Sandy Weill
+4 more
federal-reserve
citigroup
glass-steagall-violation
regulatory-waiver
systemic-corruption
+3 more
Read more →