Gramm-Leach-Bliley Act/Definition

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A definition or brief description of Gramm-Leach-Bliley Act.

A 1999 U.S. law that repealed two provisions of the Glass-Steagall Act of 1932, and let banks, insurers, and securities traders combine their activities; it also introduced other changes to U.S. banking law including privacy requirements and expansions to the Federal Home Loan Bank System.