United States · Amendment · HAMDT

HAMDT 396 (102nd)

Amendments en bloc: (1) phase out over three years the existing restrictions on interstate banking and interstate branching for banks that maintain a capital/assets ratio of at least 6% and an overall ratio of at least 8% (Bank regulators would be permitted to set higher minimum capital requirements but would not be able to reduce them.); (2) limit interstate bank mergers and acquisitions to restrict any one bank from holding more than 10% of all insured deposits held by depository institutions nationwide, or more than 30% of the insured deposits in a single state; (3) permit states to enact legislation to opt out of the provisions of the bill; (4) prohibit interstate sale of insurance by state banks without the specific authorization of the recipient state; (5) permit such interstate insurance activities in existance prior to enactment of the bill, provided they were lawful and not subject to legal challenge as of June 1, 1991; (6) clarify that national banks may sell insurance only from offices in towns with a population of 5,000 or less; (7) prohibit national banks or their subsidiaries from future underwriting and selling of title insurance; and (8) prevent federal bank regulators from permitting banks or subsidiaries from engaging in real estate investment, management, or development, or acting as a real estate principl. or broker.