WASHINGTON - Legislation aimed at repealing the Glass-Steagall Act would also deprive thrifts of the few powers that give them an advantage over commercial banks, industry spokesmen charged last week.

The bill, introduced last Wednesday by House Banking Committee Chairman Jim Leach, R-Iowa, attacks the special powers available to unitary thrift holding companies - companies that own a single thrift.

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.