No one could ever accuse Senate Banking Committee Chairman Phil Gramm of being an admirer of F.D.R.'s big-government philosophy or his penchant for creating a plethora of alphabet agencies, many of which endure three generations later.

However, the senator's recent zealous approach to the "sunshine" provisions in the Gramm-Leach-Bliley Act of 1999 might make many bankers shudder and reconsider the unflattering parallels between F.D.R.'s and Sen. Gramm's approaches to government.

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.