WASHINGTON - The Federal Deposit Insurance Corp. adopted a regulation Tuesday that bars state-chartered banks from offering products or services that national banks may not offer.

Congress in 1991 instructed the FDIC to crack down on states that allow their banks to engage in activities that federal regulators consider unsafe. The same prohibition was slapped on state-chartered thrifts by the 1989 thrift bailout law.

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.