In 1940 the United States Congress started to undo many of the Depression-era regulations of the banking system, which were imposed because many blamed the banks for the Depression.

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In 1940, the United States Congress did not start to undo many of the Depression-era regulations of the banking system. Instead, during the 1930s, Congress enacted several key pieces of legislation, such as the Glass-Steagall Act, to strengthen financial regulations in response to the Great Depression. Deregulation of the banking system began in earnest much later, particularly in the 1980s.

In 1940 the United States Congress Started to Undo Many