Financial Services Competition Act of 1997U.S. Government Printing Office, 1997 - 378 páginas |
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Palavras e frases frequentes
Act and Rules affiliates agency alleged assets authority bank holding company bank's banking and commerce Banking Committee banking products banking regulators believe bill Board broker broker-dealer capital Chairman charter cial commercial Commission competition complaint concerns CONGRESS THE LIBRARY consumer protection Corporation Council customers demutualization deposit insurance DINGELL engage entities Exchange Act exemption FDIC Federal Reserve Federal Reserve Board FEDERAL SAVINGS ASSOCIATIONS filed financial institutions financial modernization financial services financial services industry FSAs functional regulation Glass-Steagall Act Greenspan insurance companies insurance products insurance regulators investment investors issue legislation Levitt LIBRARY OF CONGRESS licensing limited loan MassMutual ment million mutual funds mutual holding company NARAB NASD national banks nonbank nonfinancial OXLEY percent policyholders RARY real estate regu regulatory requirements RESS RETSINAS risk safety and soundness Section securities activities securities firms sell statements structure Subcommittee subsidy supervision surance Thank tion title insurance transactions underwriting violations
Passagens conhecidas
Página 321 - Board shall consider whether its performance by an affiliate of a holding company can reasonably be expected to produce benefits to the public, such as greater convenience, increased competition, or gains in efficiency, that outweigh possible adverse effects, such as undue concentration of resources, decreased or unfair competition, conflicts of interests, or unsound banking practices.
Página 249 - ... what constitutes doing business in this State, and also exercises powers and privileges available to the state by virtue of Public Law 15, 79th Congress of the United States, Chapter 20, 1st Session, S. 340, which declares that the business of insurance and every person engaged therein shall be subject to the laws of the several states.
Página 246 - State laws that would otherwise prohibit small-town national banks from selling insurance ~ "is not to deprive States of their power to regulate national banks, where (unlike here) doing so does not prevent or significantly interfere with the national bank's exercise of its powers.
Página 60 - ... that there are always areas where improvements can be made to the state regulatory system, we have evolved and adapted as the financial markets have changed. In the context of the Congressional debate on financial services modernization, on March 17, 1997, the NAIC adopted a resolution (Attachment A) supporting state authority to regulate the insurance activities of financial institutions. The resolution states in part: "The NAIC supports functional regulation of the financial services industry...
Página 288 - Reports, its other publications and from noncommercial contributions, grants and fees. In addition to reports on Consumers Union's own product testing, Consumer Reports...
Página 321 - The court found that the following kinds of connections could qualify: "(1) banks generally have, in fact, provided the proposed services; (2) banks generally provide services that are operationally or functionally so similar to the proposed services as to equip them particularly well to provide the proposed...
Página 75 - Because of the organizational flexibility that other countries give their financial services companies, forcing US banks into a holding company structure is particularly problematic as the financial services marketplace is increasingly globalized.
Página 266 - Notification documents (also referred to as "licenses") must be filed in many instances for each company with which the agent does business. This process is then repeated in each State in which they conduct business. Each State has different application forms, statutory requirements (such as bonds, countersignatures, references, fees, and even, in eight States, finger-printing), and different expiration periods for the licenses. Each State has its own requirements for company appointments and/or...
Página 321 - Section 4(c)(8) of the Bank Holding Company Act, the Board of Governors of the Federal Reserve may decide whether an activity is closely related to banking and is a proper incident thereto.
Página 49 - You would have that advisory credit council composed of the Secretary of the Treasury, the Chairman of the Federal Reserve Board...