... bonds, and options, there was no clearinghouse for trades in most of the 21 Barth, James R., R. Dan Brumbaugh Jr. and James A. Wilcox, The Repeal of Glass-Steagall and the Advent of Broad Banking,” ... consolidation. The process was already underway, but it increased significantly after the passage of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, which eliminated previous ... evolution of a national banking system. The crumbling walls of Glass-Steagall received a final blow in 1999 when Congress passed the Financial Modernization Act, also known as the Gramm-Leach-Bliley...