Answer :
Final answer:
The Banking Act of 1933, also known as the Glass-Steagall Act, was implemented in response to the Great Depression to stabilize the banking system and prevent future economic crises.
Explanation:
The Banking Act of 1933, also known as the Glass-Steagall Act, was a reaction to the Great Depression aimed at restoring confidence in the banking system. This act established the Federal Deposit Insurance Corporation (FDIC) to insure bank deposits, separate commercial and investment banking activities, and regulate risky financial practices to prevent another economic collapse.
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