The Financial Service Modernization Act of 1999 has been crucial to the financial service industry ever since its
creation. There are two primary reasons this Act was mandated to aid the financial service industry- the merger/barrier reason
and consumer privacy reason. This paper evaluates whether this policy has achieved this object and how the effect the policy has
had on the financial service industry compares to the non-policy effect on wholesale trade industry, retail trade industry and
service industry. This paper finds that this policy is one of the significant reasons, If not the primary reason, for the increase in
the Enterprise Value (EV) of firms within the financial service industries over the industries. Furthermore, the findings suggest
that customer complaints may have lessened within the financial service industries more than Wholesale and Retail trade
industries but not the service industries.
