DEFINITION of 'Pujo Committee'

A committee started to investigate the "money trust". It was formed in 1912 by Arsene Pujo, a member of the United States House of Representatives, and the National Monetary Commission. The committee helped to open the eyes of the public on the issue which helped gain support for the changes that needed to be made.

BREAKING DOWN 'Pujo Committee'

The committee performed an investigation into the allegations that the financial industry was being controlled by only a select few powerful individuals. The allegations proved true and led to the changes to the sixteenth amendment of the Federal Reserve Act and the Clayton Antitrust Act the following year.

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