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A year after the Office of the Comptroller of the Currency's operating subsidiary rule was finalized, only three applications have been received by the agency and no action has yet [...]

The lack of incentives to negotiate an agreement by the banking industry concerning bank insurance business is the major obstacle to reform in financial services, according to staff members in Congress. Efforts by the Federal Reserve and Office of the Comptroller of the Currency for banking deregulation have given banks almost everything they want. The situation may become more complicated if Federal Deposit Insurance Corp gets involved., WASHINGTON--The biggest stumbling block to financial services reform is the fact that banks have no real incentive to come to the table to negotiate an agreement, leading Capitol Hill staffers [...]

Question Of Fair Competition Clouds Bank Deregulation You may need to add Virginia to your list of states that allow banks to sell insurance. The state legislature passed a measure [...]

Illinois Agents Hit Bank Deregulation Skokie, Ill. - Illinois insurance agents are staking out their position on the bank issue for this legislative session, looking for support from sitting legislators [...]

Annunzio Questions Bank-Sales Benefits WASHINGTON--Consumers will likely receive no benefits if banks are allowed to directly sell insurance, according to a top member of the House Banking Committee. 'I do [...]

The Independent Insurance Agents of America predicts that banking reform legislation allowing for greater bank/insurance industry competitiveness will pass through Congress with a comfortable majority. The bill would place a five-year moratorium on the Comptroller of the Currency's powers to broaden banks' insurance activities, and it would be attached to a repeal of the Glass-Steagall Act. As for the banking industry, the American Bankers Association trade group decried the bill as protectionist., WASHINGTON - Long awaited banking legislation that would impose a five-year moratorium on the ability of the Comptroller of the Currency to expand bank insurance powers may finally begin moving [...]

Agents Face Long Battle Over Bank Deregulation WASHINGTON - Insurance agents should prepare themselves for a tough and prolonged battle with bankers over financial services deregulation. A constant theme at [...]

Ins. May Hike Risk For Banks `Significantly' Bank entry into the insurance business 'would cause a fundamental change in the current structure of the banking system' and 'should not be [...]