At a high-level meeting on financial reform legislation last week, Rep. Jim Leach suggested a compromise on the issue of unitary thrift holding companies.

Rep. Leach said he would support the merger of the bank and thrift deposit insurance funds if fellow House and Senate Banking committee leaders would agree to prohibit commercial firms from buying unitary thrifts. The legislation would bar the creation of new unitary thrifts, but the House version would permit existing unitaries to be sold, whereas the Senate version would not. Neither the House nor Senate version would merge the funds.

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.