Comptroller of the Currency Eugene A. Ludwig said efforts to update the banking laws must move beyond Glass-Steagall reform. In a speech Jan. 24 before the Exchequer Club, Mr. Ludwig talked about the challenges posed by technology, geography, and consolidation. Excerpts follow:

Let's suppose for a moment that Glass-Steagall reform passes tomorrow. Would we then breathe a collective sigh of relief knowing that our financial system is now prepared to carry America's economy forward into the next millennium?

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