FDICIA: one year later
Article Abstract:
The Federal Deposit Insurance Corporation Improvement Act (FDICIA) was prompted by an irrational prejudice against banks which has made analysing the real issues involved more difficult. Bank losses have tended to be a regional phenomena, and have been linked to the incompetence of savings and loans regulators. The FDICIA involves an attempt to impose uniform standards on the banking industry which has undermined the banks' ability to be competitive, and clogged up availability of credit. The FDICIA should be repealed, but this is unlikely for practical reasons, so another solution would be to privatize deposit insurance management.
Publication Name: Regulation
Subject: Law
ISSN: 0147-0590
Year: 1993
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Financial services modernization
Article Abstract:
The House Banking Committee introduced a bill that will effectively abolish the 1933 Glass-Steagall Act which divides commercial banking from investment banking. The ruling would also impose that thrift institutions acquire a commercial bank charter, allow the mergers of banking, insurance and securities activities, and some mixing of banking and commerce, as well. However, after the Comptroller of the Currency has approved a procedural regulation that would allow banks to provide non-bank financial services, the need for a major reform was noticed.
Publication Name: Regulation
Subject: Law
ISSN: 0147-0590
Year: 1997
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Those who live in Glass Steagalls...
Article Abstract:
The merger issue involving CitiCorp and Travelers Group has raised concerns over the tendency of some private-owned companies to gain a dominant share of the country's highly-regulated financial services industry. These activities have emerged lately, due to the incompetence of government trade officials to check anticompetitive practices. During the early 1930s, attempts to tread on US financial services were barred by the passage of the Glass-Steagall Banking Act.
Publication Name: Regulation
Subject: Law
ISSN: 0147-0590
Year: 1998
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