House Banking Committee Chairman Jim Leach spent the week trying to broker a deal with bank and insurance industry groups, in the hope of finally freeing up his financial modernization bill.

The Iowa Republican's latest offer would remove a moratorium on the comptroller's ability to grant new insurance powers to banks. It also would allow banks and insurance firms to be owned by the same holding company and would rely on the standard set in the Supreme Court's Barnett ruling to prevent states from interfering with bank insurance sales.

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