WASHINGTON - House Banking Committee Chairman Jim Leach appears ready to compromise on legislation aimed at eliminating the special powers enjoyed by holding companies that own only one thrift.

Thrift industry leaders who met with the Iowa Republican Friday said Rep. Leach won't remove language on the so-called unitaries from his Glass- Steagall repeal bill. However, he did indicate he was willing to exempt, or "grandfather," existing unitary thrift holding companies.

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.