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Wal-Mart Stores Inc. Message Board

  • a221b10 a221b10 May 18, 2006 5:07 PM Flag

    Close loopholes

    Bernanke also urged Congress to review U.S. law that allows commercial companies to buy a type of bank known as an industrial loan company but escape a level of federal regulation.

    He said Congress has been clear that it wants banking and commerce separated, but a "loophole" in current law allows that policy to be violated.

    "Congress has clearly indicated that separating banking and commerce is the policy they want to pursue, and therefore allowing that barrier to be broken down by loopholes seems to be inconsistent with the public policy that Congress has enunciated," he said.

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