Financial Services Restructuring Part 1
Committee members heard testimony from federal banking regulators on the merging of banks, securities firms and insurance companies. They te… read more
Committee members heard testimony from federal banking regulators on the merging of banks, securities firms and insurance companies. They testified about the risks, such as financial insecurity,and benefits, such as increased competition, of such mergers, which would bring the banking industry more in line with current business and financial practices. Rep. Leach is sponsoring H.R. 10 to allow such mergers by changing the current law governing the banking industry, the 1934 Glass-Steagall Act. close
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