Fed's Kohn: Congress should Review Industrial Banks

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004142-feds-kohn-congress-should-review-industri/

Congress should review a “loophole” in U.S. law that allows corporations to buy industrial banks but escape a level of federal bank supervision, Federal Reserve Governor Donald Kohn said on Wednesday.

Kohn, in remarks prepared for a Senate Banking Committee hearing on regulatory relief proposals, did not comment on the outlook for the U.S. economy or interest rates.

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