In a bid to save their industry, America's Community Bankers told members of the House Commerce Committee last week that eliminating the thrift charter would make it harder for securities and insurance firms to offer banking products.

"We hope that you ... decide it would be better to allow federal savings associations and unitary thrift holding companies to continue to operate side by side with commercial banks," ACB director of government relations Robert R. Davis said in a July 17 letter.

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.