WASHINGTON - The Office of the Comptroller of the Currency stepped up its assault Tuesday on Rep. Jim Leach's Glass-Steagall repeal bill, slamming a provision that would limit the activities of bank subsidiaries.

"There are unnecessary restrictions being placed on aspects of how banks do business," Julie Williams, chief counsel for the Comptroller of the Currency, declared at a House Commerce joint subcommittee hearing. Ms. Williams delivered testimony that had been prepared for Comptroller Eugene A. Ludwig.

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.