Some recent press reports and legal commentaries have suggested that the financial modernization legislation being considered by Congress could be the death knell for bank trust departments that service pension plans, especially individual retirement accounts and participant-directed 401(k) plans.

These reports suggest that ifthe legislation becomes law, these services will be "pushed out" of banks and into broker-dealer affiliates subject to registration and oversight by the Securities and Exchange Commission.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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