Which U.S. president signed the Glass–Steagall Act after the 1929 stock-market crash?

Franklin D. Roosevelt signed the Glass–Steagall Act after the 1929 stock-market crash.

The Banking Act of 1933, commonly called Glass–Steagall, was enacted during Roosevelt’s first year in office. It separated commercial banking from investment banking and created federal deposit insurance through the Federal Deposit Insurance Corporation.

The law responded to widespread bank failures during the Great Depression, although the stock-market crash itself had occurred before Roosevelt became president. The legislation is often confused with the broader New Deal banking reforms, which also included the Emergency Banking Act.

Congress repealed key parts of the commercial-bank and investment-bank separation in 1999 through the Gramm–Leach–Bliley Act. Historians and economists continue to debate how much Glass–Steagall affected later financial stability, but Roosevelt’s role in signing it is a specific, documented fact.