Legal News for Mon 6/16 - Trump Mass Deportation Attempt, Senate $3T Tax Bill Sans SALT Solution, Harvard Legal Battle to Protect International Students
This Day in Legal History: Glass-Steagall Signed
On June 16, 1933, President Franklin D. Roosevelt signed the Banking Act of 1933 into law—a pivotal piece of Depression-era legislation better known by the names of its congressional architects: Senator Carter Glass and Representative Henry Steagall. The law’s timing was not accidental; it came just months after the catastrophic banking failures that had shuttered thousands of banks and evaporated public trust in the financial system. At its core, the act sought to restore that trust through structural reform, not just emergency patchwork.
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