Banking Act) created the "disintermediation" that began in the 1960s, led to the phase-out of Regulation Q through the Depository Institutions Deregulation and Monetary Control Act of 1980, and opened banking to greater competition. Jan Kregel accepts that "supporters of free-market liberalism" were correct in describing "competitive innovations" of nonbanks as breaking down the "inefficiencies of a de facto cartel" established by the 1933 Banking Act, but argues the "disintegration of the protection" provided banks was "as much due to the conscious decisions of regulators and legislators to weaken and suspend the protections of the Act." See also American International Group Arthur Vandenberg Commodity Futures Modernization Act of 2000 Corporate Law Global financial crisis of 2008 Presidency of Franklin D. Roosevelt#Banking and financial reforms Subprime mortgage crisis Systemic risk Notes References . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Further reading . . . . . . . External links Public Law 66, 73d Congress, H.R. 5661: an Act to Provide for the Safer and More Effective Use of the Assets of Banks, to Regulate Interbank Control, to Prevent the Undue Diversion of Funds into Speculative Operations (Banking Act of 1933) Full text of the Banking Act of 1933 followed by New York Federal Reserve Bank Explanation Glass Subcommittee hearings Pecora Investigation hearings FDIC History: 1933-1983 1987 Federal Reserve Bank of Kansas City Jackson Hole Symposium on Restructuring the Financial System Article from March 10, 1933, in The Southeast Missourian detailing debate about intended and unintended consequences of having FDIC 1933 in American law 73rd United States Congress Federal Deposit Insurance Corporation United States federal banking legislation Banking Act Separation of investment and retail banking 1933 in economics