Financial Services Legislation
Background and Issues for Debate
Legislation modernizing financial services offers a comprehensiveapproach to changing and updating many of the laws and regulationssegmenting financial services in the United States. The commoncharacteristic of bills considered in the first session of the106th Congress was that they would permit affiliations of banking,securities, and insurance firms. The intent is to improve competitionwhile providing a prudential framework for achieving that result.Whereas financial institutions in the United States formerlyoffered distinctive types of services, these lines have been blurringin recent years. Consolidation of formerly geographic disparateorganizations is also occurring. Technological developments arean important factor in enabling financial services to be deliveredin new ways,…
