WASHINGTON -- Senate Banking Committee Chairman Donald W. Riegle Jr.'s surprise announcement on Tuesday that he will not seek a fourth term in 1994 has bankers hoping that he will devote more time to banking legislation.

Sen. Riegle now will have "fewer political concerns and so he may decide he wants to move banking legislation at this point," said Donald G. Ogilvie, executive vice president of the American Bankers Association.

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