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Article: Leach crafting 'state's rights' bank bill to allow affiliations. (between banks and insurance agencies)(House Banking Committee Chairman Jim Leach)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- April 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 Summit Business Media. 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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WASHINGTON--House Banking Committee Chairman Jim Leach, R-Iowa, is developing a new "state's rights" banking reform bill that would permit affiliations between banks and insurance firms.
In the wake of the Supreme Court's ruling in the Barnett Bank case, which overturned state laws that bar affiliations between national banks and certain insurance agencies, Rep. Leach said the time has come for Congress to decide the proper scope of bank insurance activities.
"Given the Barnett Bank decision announced this week by the Supreme Court, the rights and powers of industrial groups have shifted," Rep. Leach said last week.
"The House Banking Committee ...