WASHINGTON -- President Clinton said he will nominate Richard Carnell, a former congressional staffer and Federal Reserve attorney, to be assistant secretary of the Treasury for financial institutions.

Mr. Carnell, as senior counsel to the Senate Banking Committee, had a major influence on financial legislation such as the Competitive Equality Banking Act of 1987 and a 1988 bill that would have repealed the Glass-Steagall Act's separation of commercial and investment banking. The latter bill passed the Senate but not the House.

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