Bill Clinton played a significant role in deregulating the U.S. banking system. In 1999, he signed the Gramm-Leach-Bliley Act, which repealed key provisions of the Glass-Steagall Act, allowing commercial banks to engage in investment activities previously restricted to investment banks, and vice versa.24 This move was supported by Clinton's advisers, who argued that the separation between banking and other financial services mandated by Glass-Steagall was outdated in a globalized financial environment.2
The repeal of Glass-Steagall and subsequent deregulation measures led to a significant consolidation in the banking industry. By 2016, 57 percent of U.S. banks had disappeared, reducing the number of FDIC-insured commercial banks from 14,146 in 1934 to 6,172, with the largest banks becoming even larger and more dominant
This should take care of any of your doubts Mr Blue.
Thanks for the comments Mike.