U.S. Bank Bill would Shut Door for Retailer Banks

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00003128-us-bank-bill-would-shut-door-for-retailer/

A U.S. House of Representatives banking committee is due to complete work on Thursday on a bill that would let banks — but not ones attached to large retailers — open branches across state lines, congressional aides said on Tuesday.

Banks are currently allowed to open branches in other states through special state-to-state arrangements among 20 states and the District of Columbia.

Legislation before the House Financial Services Committee would let banks open new branches in any state, but would bar industrial banks, also known as industrial loan corporations (ILCs), that are not attached to financial firms, from doing so.

For this complete story, please visit U.S. Bank Bill would Shut Door for Retailer Banks.

U.S. Bank Bill would Shut Door for Retailer Banks

Unknown Author

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