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BANK LEGISLATION A WIN FOR STATES, SAYS CONFERENCE OF STATE BANK SUPERVISORS

 BANK LEGISLATION A WIN FOR STATES,
 SAYS CONFERENCE OF STATE BANK SUPERVISORS
 WASHINGTON, Nov. 27 /PRNewswire/ -- The Conference of State Bank Supervisors (CSBS) expressed satisfaction with the final version of banking legislation, H.R. 3768, passed today in the House and Senate.
 CSBS, which represents state banking regulators, had opposed earlier versions of the bill that would have severely curtailed states' authority over the activities and structure of state- chartered banks.
 "The Treasury Department's original proposal was a real threat to the state banking system," said CSBS President and CEO James B. Watt. "It would have centralized all regulatory decision-making at the federal level and concentrated financial power in the hands of a few major banks. The bill passed today recognizes the contributions of the state banking system by allowing the system to continue to operate without undue restriction.
 "The bill leaves interstate branching, for instance, to the states' leadership," Watt noted. "States took the lead on interstate banking, and we certainly see interstate branching as the next step. Unfortunately, Congress did not make the necessary changes in the law to allow national banks to take advantage of states' future progress in this area." The McFadden Act, which acknowledges state control over bank geographic structure, does not permit national banks to branch across state lines.
 "We salute the leadership of Congressman Tom Carper and Senator William Roth of Delaware, in their vigorous support of the state banking system," said Watt. "Because of their efforts and others', states will continue to be able to authorize new activities for banks to serve their customers better." He observed that these activities, such as insurance agency and securities brokerage, can be significant, low-risk sources of revenue for banks. "New, low-risk sources of revenue for banks are particularly important in times of economic difficulty," he added.
 The Conference of State Bank Supervisors is the professional association of the state officials who charter, regulate and supervise the nation's 8,500 state-chartered banks.
 -0- 11/27/91
 /CONTACT: Ellen Lamb, 202-728-5725, or Jim Watt, 202-728-5701, both of the Conference of State Bank Supervisors/ CO: Conference of State Bank Supervisors ST: District of Columbia IN: FIN SU: LEG EXE


MH-MK -- DC020 -- 7871 11/27/91 16:22 EST
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Publication:PR Newswire
Date:Nov 27, 1991
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