WASHINGTON - Two of the three leading candidates to succeed House Banking Committee Chairman Jim Leach said Tuesday that they would heed his call to investigate actions by the Office of the Comptroller of the Currency that Rep. Leach said improperly allowed four banks to hold equity positions in public companies.

Reps. Marge Roukema, R-N.J., and Richard Baker, R-La., made their comments after Rep. Leach released evidence Monday that he said showed the OCC had overstepped its authority by "secretly" giving four national banks permission this summer to directly hold stock in other companies. Rep. Leach said the decisions violated the ban on the mixing of financial and commercial activities.

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.