Banks and insurers slowly converge

Elswick, Jill
May 2001
Employee Benefit News;May2001, Vol. 15 Issue 6, p1
Reports that banks, insurance companies and other financial services organizations in the United States have been free to join forces since the enactment of the Gramm-Leach-Bliley Financial Modernization Act took effect. Why few financial firms have chosen to pursue financial holding company status; First insurance company to purchase a nationally chartered bank since the passage of Gramm-Leach-Bliley; Why larger banks are purchasing insurance firms outright.


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