I ask the chairman of the Senate Banking Committee, my colleague from Connecticut, Senator Dodd, to clarify the types of trust companies that fall within the scope of section 603(a), a provision that prohibits the Federal Deposit Insurance Corporation from approving an application for deposit insurance for certain companies, including certain trust companies, until 3 years after the date of enactment of this act.
The speaker is seeking clarification on regulations affecting trust companies and deposit insurance.
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