Holding out for more powers, the Bankers Roundtable is likely to oppose the latest version of the House Banking Committee chairman's Glass-Steagall reform bill, sources said Friday.
However, Bankers Roundtable legislative director Alfred Pollard said the big bank trade group made no decision during meetings Thursday and board members are scheduled to continue deliberations today.
According to sources familiar with Thursday's meeting, members spelled out revisions needed to gain the Roundtable's support. Those changes are:
*Bank holding companies must be allowed to own uninsured wholesale financial institutions.
*Provisions blocking states from prohibiting bank and insurance company affiliations and discriminating against bank insurance sales must be strengthened.
*Banks not controlled by holding companies must be able to run insurance companies from an operating subsidiary.
House Banking Committee staff members said Friday that Chairman Jim Leach is willing to consider the group's first two requests, but said he opposes allowing banks to run insurance businesses from an operating subsidiary.