Financial Services Industry
Industry: Email Alert RSS FeedAgents to target bank deregulation.
National Underwriter Property & Casualty-Risk & Benefits Management, December, 1989 by Brostoff, Steven
Agents To Target Bank Deregulation Banking deregulation will occupy the number one spot on the legislative agenda of insurance agents in 1990, according to agent representatives. Insurance agents lost a major battle on banking deregulation recently when a federal appeals court in New York upheld the view of the Federal Reserve Board by unanimously ruling that state-chartered subsidiaries of bank holding companies can engage in any insurance activities permitted under state law.
The ruling involved the acquisition of two state-chartered banks with insurance operations by Merchants National Corp., an Indianapolis-based bank holding company. Insurance agents plan to appeal the ruling before the U.S. Supreme Court. "I believe that 1990 will be a watershed...
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