FINANCIAL SERVICES MODERNIZATION

1998 - LR - Functional Regulation of Bank Insurance Activities:
The Time Has Come, Linda Birkin Tigges <Bonk: Reading List>

  • (noting that the American Council of Life Insurance (ACLI),
    the largest trade group for the insurance industry, has "'reversed its policy on affiliations
    and hopes that this action will facilitate the development of legislation that is fair across the
    board') (quoting Roy Albertalli, Vice President, ACLI, at a House Banking Committee
    hearing on financial services reform)
  1. 1987 1005  - GOV - Role of Financial Institutions, Part 1 - TELECOMMUNICATIONS AND FINANCE SUBCOMMITTEE 
  2. 1987 1005  - GOV - Role of Financial Institutions, Part 2 -TELECOMMUNICATIONS AND FINANCE SUBCOMMITTEE 
  3. 1991 0228 - GOV - Financial Industry Restructuring
  4. Financial Services Regulation - TELECOMMUNICATIONS AND FINANCE SUBCOMMITTEE 
  5. 1997 0522 - GOV - Financial Services Restructuring Part 1
  6. Financial Services Restructuring
  7. 1999 0210 - GOV - Financial Services Modernization
  1. 1987 1005  - GOV - Role of Financial Institutions, Part 1
  2. 1987 1005  - GOV - Role of Financial Institutions, Part 2
  3. 1991 0228 - GOV - Financial Industry Restructuring

    The subcommittee heard testimony from Mr. Seidman, chairman of the Federal Deposit Insurance Corporation, on restructuring of the financial industry. Mr. Seidman advocated an eleven point plan to protect bank deposits, a function usually served by the FDIC, which is experiencing financial difficulties due to the number of recent bank failures. Mr. Seidman described his plan to secure bank deposits in the short term and his long term plan to reconstruct the financial capital of the Federal Deposit Insurance Corporation. His plan involved increasing the amount of money the FDIC could borrow from the Treasury from $5 billion to $20 billion. Mr. Clarke characterized the hearing as being oriented towards remaking a financial system which had ceased to function adequately in recent years. He advocated entirely new and comprehensive solutions to solve the problems of the U.S. banking system rather than patchwork repairs to the existing system

  4. Financial Services Regulation - Subcommittee members heard testimony on financial services regulation that would allow banks and securities companies to enter each other’s business.
  5. 1997 0522 - GOV - Financial Services Restructuring Part 1 - Committee members heard testimony from federal banking regulators on the merging of banks, securities firms and insurance companies. -Ludwig (OCC)
  6. Financial Services Restructuring - Committee members heard testimony from Treasury Department officials in this continuing series of hearings on the merging of banks, securities firms and insurance companies
  7. 1999 0210 - GOV - Financial Services Modernization
  8. 1999 0428/0505 - GOV - THE FINANCIAL SERVICES ACT OF 1999 - [PDF-205p, ]
  • Financial Services Legislation - Representative Bruce Vento (D-MN) described the amendment he would be offering for the current banking and financial services legislation. - 6 minutes [VIDEO-CSPAN]
  • Financial Services Bill Signing - President Clinton and others talked about the Financial Services Bill that would provide greater freedom, competition and consumer protection in the financial services industry. Following their remarks, President Clinton signed the bill into law.  [VIDEO-CSPAN]

Bank Examination Policies

Last month in Baltimore the National Examiners Conference met to discuss new, secret, bank examination standards. The Bush administration refused to allow representatives of the House Banking Committee to attend the meetings. Chairman Gonzales called a hearing today to discuss concerns that the Bush administration may be advising the bank examiners to ease off in their restrictions in order to make loans more available.