Lawmakers last week stepped up political pressure on the Clinton Administration to put its shoulder behind the cause of consolidating federal bank regulatory agencies.

Senate Banking Committee Chairman Donald W. Riegle, D-Mich., and Sen. Alfonse D'Amato, R-N.Y., last week introduced legislation that would combine the supervisory and regulatory functions of the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corp., and the Office of Thrift Supervision into a single Federal Banking Commission.

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