WASHINGTON - Some Federal Reserve district bank presidents are expressing concern about a bill that would end the practice of placing their selection in the hands of private sector bankers.

The measure, introduced by House Banking Committee Chairman Jim Leach on the first day of the new Congress, would delegate authority for selecting presidents of the 12 Fed district banks to the seven-member Federal Reserve Board. Industry observers believe the measure may have a decent chance of passage if folded into the Iowa Republican's broader agency consolidation package.

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