Gonzalez Threatens to Stall Reform Bill
WASHINGTON - Henry B. Gonzalez, chairman of the House Banking Committee, threatened to delay the administration's reform bill because other committees were meddling in his panel's affairs.
Rep. Gonzalez, D-Tex., sent a letter to Speaker Thomas S. Foley, D-Wash., complaining that work on the bill by the House Energy and Commerce Committee and the House Agriculture Committee constitutes "an egregious encroachment into this committee's jurisdiction.
"The misguided conduct of these committees will only delay our desire to bring a banking bill to the floor of the House," read the letter, sent Thursday.
The energy panel voted last week to repeal the Glass-Steagall Act but restrict insurance and securities powers. The agriculture panel voted to require banks that branch interstate to keep lending 50% of their funds locally.