WASHINGTON - Banks would be allowed to offer a broader array of investment options to trust customers under legislation introduced recently in the Senate.

A bill introduced last week by Sen. William V. Roth, R-Del., and Sen. Max Baucus, D-Mont., would eliminate tax penalties on the transfer of certain trust assets into mutual funds.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.