![Federal Reserve Board Chairs Ben Bernanke, Paul Volcker, and Alan Greenspan.](/https/www.federalreservehistory.org/-/media/images/great_moderation_1_720x450.jpg)
![Jim Leach, R-Iowa, Phil Gramm, R-Texas, and Thomas J. Bliley Jr., R-Va., during a press conference on their compromise bill.](/https/www.federalreservehistory.org/-/media/images/gramm_leach_bliley_1.jpg)
Gramm-Leach-Bliley Act
The 1999 Act promoted financial integration by repealing parts of the Glass-Steagall Act while giving the Fed new supervisory powers
![FRBNY President William McDonough](/https/www.federalreservehistory.org/-/media/images/near_failure_ltcm.jpg)
Near Failure of LTCM
A group of banks and brokerage firms prevented the collapse of this hedge fund in 1998
![A South Korean labor union member of Seoulbank, one of South Korea's most bad-debt burdened commercial banks, looks downcast.](/https/www.federalreservehistory.org/-/media/images/asian_financial_crisis_720x450.jpg)
Asian Financial Crisis
A financial crisis started in Thailand in July 1997 and spread across East Asia
![<p>Graphic from the Board of Governors <a href="https://web.archive.org/web/20050204084157/http:/www.federalreserve.gov/pubs/riskyhomeloans/default.htm">website</a>
in 2005. </p>](/https/www.federalreservehistory.org/-/media/images/HOEPA_720x450.png)
Home Ownership and Equity Protection Act of 1994
HOEPA addresses unfair, deceptive, or abusive mortgage lending practices
![President Clinton signs the Interstate Banking and Branching Efficiency Act of 1994 as Senate Banking Committee Chairman Don Riegle and Treasury Secretary Lloyd Bentson look on.](/https/www.federalreservehistory.org/-/media/images/riegle_neal_act_720x450.jpg)
Riegle-Neal Act
The 1994 law removed many of the restrictions on bank branching across state lines
![The Federal Deposit Insurance Corporation Building in Washington, D.C.](/https/www.federalreservehistory.org/-/media/images/fdicia_720x450.jpg)
FDICIA
The 1991 Act was intended to address problems in the banking and thrift industries
![Composite of newspaper headlines reporting the Stock Market Crash of 1987](/https/www.federalreservehistory.org/-/media/images/crash_of_1987_720x450.jpg)
Crash of 1987
The Dow dropped 22.6 percent on Black Monday, October 19, 1987
![Continental Illinois bank building](/https/www.federalreservehistory.org/-/media/images/failure_continental_illinois_720x450.jpg)
Continental Illinois: A Bank That Was Too Big to Fail
The phrase “too big to fail” became commonly used for the first time after Continental’s crisis
![Demonstrators in Mexico City march in protest of the International Monetary Fund and the Mexican government, 1986](/https/www.federalreservehistory.org/-/media/images/latin_american_debt_crisis_720x450.jpg)
Latin American Debt Crisis
During the 1980s, many Latin American countries were unable to service their foreign debt