In areas where foreign banks compete directly with U.S. banks, would it be the chairman's view that the inapplicability of the Community Reinvestment Act or consumer banking laws or fair lending laws could give foreign banks a competitive advantage over U.S. banks?
Questioning the impact of foreign banks on U.S. banking regulations.
Share
More from Wendell Ford
I have but a few minutes to speak this morning on behalf of the Reid-Ford-Feinstein balanced budget amendment. So I will concentrate my remarks this morning on trust. The public trusts the Congress to keep the Nation's finances in order…
Do foreign banks have the right to branch interstate under the House bill without meeting the same requirements we put on domestic banks?
I would say to the chairman that my concern with the approach is that the Community Reinvestment Act and other consumer laws would not apply to the foreign bank branches under the House bill. Let me ask the chairman further, do foreign…
EAS indeed provides an important service to many small communities across the Nation.
Other voices in this conversation
