House Banking Chairman Jim Leach's May 3 speech before the Chicago Federal Reserve Bank's conference on bank structure and competition may be the best piece of fiction since Walt Disney's "Pollyanna."

Mr. Leach asserts that his legislation "allows for insurance underwriting and agency affiliations," and that "regardless of what critics contend, the bill is a floor, not a ceiling."

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.