Kane's regulatory dialectic suggests that regulation of financial institutions is a series of cyclical interactions between opposing political and economic forces. Along with Kane's argument, it is observed that the US depository industry was tightly regulated before the 1980s but then de-regulation started in the 1990s and was in full gear before the 2007-2009 global financial crisis. However, it is also asserted that the de-regulation in US went too far which at the end led to the financial crisis. Taking US as an example, we can inspect how the development of regulation affects the management of ‘commercial banks' in US and the banking business Discuss briefly the background, main content, and how ‘commercial banks' in US are affected by the following regulations: · 1999 Financial Services Modernization Act · 2010 Wall Street Reform and Consumer Protection Act