BANKING & FINANCE - July 30, 1991

Dingell Eases Bank Reform Stance: Rep. John D. Dingell, chairman of the Energy and Commerce Committee, said he remains deeply suspicious of mixing the banking and securities industries but will accede to holding companies owning both types of financial businesses. Dingell’s stance leaves the Bush Administration some hope of enacting one of its chief proposals for overhauling the banking system--repeal of the 1933 Glass-Steagall Act, which barred commercial banks from the securities business. However, the Michigan Democrat said he will insist that banks and securities firms owned by a common holding company be operated and regulated with strict separation.