WASHINGTON -- Rep. Henry B. Gonzalez, chairman of the House Banking Committee, said his panel will work "expeditiously" to craft a bill to recapitalize the ailing Bank Insurance Fund following the House's resounding defeat Monday night of comprehensive bank reform legislation.

The outlook for major legislation this year that would repeal the law separating investment and commercial banking now appears dim, though key lawmakers did not rule out a possible bill if the Bush administration is willing to compromise. But immediate efforts will center on bolstering the flagging fortunes of the Bank Insurance Fund.

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