Bush to renew campaign for bank-insurer link. (George Bush)

National Underwriter Property & Casualty-Risk & Benefits Management, February, 1992 by Brostoff, Steven

WASHINGTON--The Bush administration is planning to reintroduce legislation that would allow affiliations between banks and insurance companies. In his budget message, President Bush again supported the creation of a new type of holding company, called a diversified holding company, that could have both banking and insurance subsidiaries.

The proposal would also allow commercial ownership of banks. The diversified holding company concept was first introduced by the administration about a year ago when the Treasury Department released a proposal to reform the financial services system in the U.S. While some deposit insurance reforms were enacted by Congress last year, the proposals to expand bank powers were shot down. The expanded powers were strongly...

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