House Banking Committee Chairman Jim Leach on Monday accused Comptroller of the Currency Eugene A. Ludwig of "unseemly" and "self-aggrandizing" efforts to grant national banks new powers by ignoring laws.

In remarks before the Institute of International Bankers, Rep. Leach blasted the comptroller for a ruling allowing a Missouri bank to retain its network of insurance agencies after converting to a national bank. The Iowa Republican also criticized an OCC plan to let national banks engage directly in activities that currently are only permissible for their parent 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.