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Article: Unleash the banks, hogtie the watchdogs. (bank regulation) (Beltway Bandits)
- Article from:
- The Nation
- Article date:
- June 24, 1991
- Author:
CopyrightCOPYRIGHT 1991 The Nation Company L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Here they go again. On top of giving an easy ride to the Administration's banking deregulation package (which would allow banks to expand into more risky endeavors and would promote further concentration of economic power) and to a $70 billion Bush plan to bail out commercial banks (in addition to S&Ls), some lawmakers in the House are trying to defang one of the few pro-consumer banking programs. When a House banking subcommittee recently considered the Bush deregulation scheme, Paul Kanjorski, a moderate Democrat, won approval for two amendments that weaken the Community Reinvestment Act. The C.R.A. compels regulators to evaluate a bank's level of investment in its ...