Administration, Fed Strike Deal On Regulating New Bank

WASHINGTON (AP) - Clinton and the Fed agree to share power Over banks that move into The securities and insurance business!

The accord announced Thursday could mean President Clinton would sign sweeping legislation that Congress is close to enacting. This legislation would lift the Depression-era legal barriers and allow banks, brokerage firms and insurance companies to merge.

A diverse coalition including consumer activist Ralph Nader, conservative Phyllis Schlafly and conservative Republicans and liberal Democrats in the House and Senate, denounced the legislation on grounds it fails to adequately protect consumers' privacy

Full story at Tampa Bay Online