Before You Invest Your Money

Former President Bill Clinton repealed the Glass-Steagall Act, which split investment-banking activities from retail-banking operations, a decade ago. Congress is considering reinstating the measure, and financial firms are scrambling to prevent the change. “We’re playing with live ammo,” said Sam Geduldig, a lobbyist at Clark Lytle & Geduldig who represents financial-services companies. “The banking community is rightfully concerned.”