WASHINGTON - Sen. Rod Grams, R-Minn., said the chairman of the House Banking Committee will have to compromise with his Senate counterpart on Glass-Steagall legislation.

The chairman, Rep. Jim Leach, R-Iowa, introduced legislation that would repeal the Glass-Steagall Act but maintain the separation of banking and commerce. Senate Banking Committee Chairman Alfonse M. D'Amato, R-N.Y., would repeal Glass-Steagall and permit affiliations between banks and nonfinancial companies.

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