what is universal banking 
universal banking is a system in which banks provide a wide variety of comprehensive financial services including those tailored to retail commercial and investment services universal banking is common in some european countries including switzerland universal banking became more common in the united states starting in 1999 when the gramm leach bliley act glba repealed the restrictions preventing commercial banks from offering investment banking services proponents of universal banking argue that it helps banks better diversify risk detractors think dividing up banking operations is a less risky strategy 