In July 2000, the company was officially converted into a financial holding company under the Bank Holding Company Act, which allowed it to engage in all financial related activities, including those with stricter regulatory standards than banking such as insurance and market securities.
In July 2000, the company was officially transformed into a financial holding company under the Bank Holding Company Act, which enabled it to engage in all financial activities, including those with stricter regulatory requirements than banking, such as insurance and securities trading.