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Brady Seeks to Sell Bank System Overhaul:...

From Times Staff and Wire Reports

Brady Seeks to Sell Bank System Overhaul: Treasury Secretary Nicholas F. Brady goes to Congress this week to sell the Administration’s proposals to overhaul the banking system, and analysts are betting that he will have a tough time persuading lawmakers to back the whole package. The medicine the Treasury is prescribing for the ailing banking industry includes allowing nationwide branching and bolstering the dwindling deposit insurance fund. It also would break down barriers between banking and commerce and allow strong banks to enter new business, such as insurance and securities. Industry analysts are optimistic that lawmakers will move quickly on deposit insurance reform and nationwide banking. But they don’t see much enthusiasm for letting banks move into other types of business or letting industrial companies own banks.


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