 On August 1, a federal jury found Tourre liable on six of seven counts, including that he misled investors about the mortgage deal.He was found not liable on the charge that he had deliberately made an untrue or misleading statement.A provision of the 1999 financial deregulation law, the Gramm-Leach-Bliley Act, allows commercial banks to enter into any business activity that is "complementary to a financial activity and does not pose a substantial risk to the safety or soundness of depository institutions or the financial system generally".