New decade promises reprise of financial services holding company
The arrival of 1990 offers a chance to look at what's in the cards for banking in the final decade of the millenium. Will there be a serious effort to reform deposit insurance? Will banking be restructured? What about the Glass-Steagall Act? Insurance for banks? And real-estate services?
The seeds of answers to these questions were contained in several studies released in the 1980s.
There was the Corrigan Plan, advanced by New York Federal Reserve Bank President Gerald Corrigan. The FDIC's contribution was Mandate for Change - Restructuring the Banking Industry. The concept of a "narrow bank" …