Which U.S. president signed the 1933 Glass–Steagall Act after the banking crisis that followed the 1929 crash?

Franklin D. Roosevelt signed the 1933 Glass–Steagall Act after the banking crisis that followed the 1929 stock-market crash.

The Banking Act of 1933, commonly associated with Senators Carter Glass and Henry Steagall, was signed by President Roosevelt on June 16, 1933. It separated commercial banking from investment banking and created federal deposit insurance through the Federal Deposit Insurance Corporation.

The law reflected widespread concern about bank failures, speculative activity and conflicts between deposit-taking and securities businesses. Its measures were part of Roosevelt’s New Deal response to the Great Depression, alongside the bank holiday and other financial reforms.

“Glass–Steagall” can refer specifically to the 1933 Banking Act or to later provisions of the U.S. Banking Act of 1933. The separation between commercial and investment banking was gradually weakened and key parts were repealed by the Gramm–Leach–Bliley Act in 1999, although some related provisions remained.