Which U.S. president signed the 1933 Glass–Steagall Act amid reforms after the Wall Street Crash?

Franklin D. Roosevelt signed the 1933 Glass–Steagall Act amid reforms after the Wall Street Crash.

The legislation was formally the Banking Act of 1933 and was signed by Roosevelt on 16 June 1933. It responded to the banking crisis that followed the 1929 crash and the broader economic collapse. Among its best-known provisions, it separated commercial banking from investment banking and created federal deposit insurance through the Federal Deposit Insurance Corporation.

The law was part of Roosevelt’s early New Deal response, rather than a measure enacted by President Herbert Hoover. Banking failures had destroyed depositors’ savings and weakened confidence, so federal reforms aimed to stabilize the financial system and reduce perceived conflicts in banking.

“Glass–Steagall Act” can refer specifically to the 1933 Banking Act or, more broadly, to later provisions associated with banking separation. The 1933 act should also be distinguished from the 1932 Glass–Steagall Act, which dealt with a different banking issue.