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The Civil Rights Act of 1991 created a Glass Ceiling Commission to address these inequities, just as the Glass Ceiling Initiative, created in 1989 by the DOL under the leadership of Secretary Lynn Martin, had done. Statistics prove beyond doubt that a glass ceiling existed long before the term was introduced.
Thus the Banking Act of 1933, now better known as the Glass-Steagall Act, was passed by the House of Representatives on May 23, 1933, and by the Senate on May 25, 1933. Glass himself believed the âmain purpose of the bill â¦ was to prevent the use of Federal Reserve banking facilities for stock gambling purposes.â