WASHINGTON -- The House Banking Committee would have sole jurisdiction over reform of the Glass-Steagall Act under a new Republican leadership plan -- a move that would remove a major roadblock to legislation allowing banks to underwrite municipal revenue bonds, congressional sources said yesterday.

The leadership plan would allow the House Energy and Commerce Committee to retain jurisdiction over securities issues, but the energy panel no longer could block attempts by the House Banking Committee to reform the Glass-Steagall Act of 1933 to remove barriers between investment and commercial banking, congressional sources said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.