Rep. Marge Roukema Wednesday introduced legislation that would allow banks to affiliate with financial companies and would abolish the thrift charter by 1998.

The New Jersey Republican acknowledged that her bill has no chance of being considered before lawmakers adjourn at the end of September, but said Congress should use the measure as the basis for hearings next year.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.