Greenspan mum on Fed's position on Del. bill. (Alan Greenspan, banking bill allowing insurance activities)

National Underwriter Life & Health-Financial Services Edition, July, 1990 by Brostoff, Steven

Greenspan Mum On Fed's Position On Del. Bill

WASHINGTON -- The Federal Reserve Board is coming under increasing pressure from Congress to reveal its view on the recent Delaware banking bill that would allow state-chartered banks to engage in almost unlimited nationwide insurance activities.

Leaders of a House Banking subcommittee--Chairman Frank Annunzio, D-Ill., and Ranking Minority Member Chalmers P. Wiley, R-Ohio--sent a letter to Fed Chairman Alan Greenspan asking him to comment on the Delaware legislation and its implications for both the insurance industry and the safety and soundness of banks.

In a response to the letter, Chairman Greenspan declined to tip his hand. He noted only that the Fed has asked Citicorp, which owns a...

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