
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, September 14, 1994                   TAG: 9409150021
SECTION: BUSINESS                    PAGE: B-5   EDITION: METRO 
SOURCE: The New York Times
DATELINE: WASHINGTON                                LENGTH: Short

INTERSTATE BANKING WINS SENATE OK

The Senate on Tuesday overwhelmingly approved and sent to the president for signing a bill that would allow banks to operate branches across the nation.

The interstate banking bill has been the Clinton administration's top legislative priority in banking this year, and congressional approval is a victory for the president and for big banks that want to set up branch networks nationwide.

The bill would eliminate the remaining barriers to interstate banking in a dozen states and a requirement that banks operate separate subsidiaries in each state.

Passage, on a 94-4 vote, came after the Treasury Department agreed Tuesday to a procedure for pursuing negligent insiders at failed savings and loan institutions.

Sen. Howard Metzenbaum, D-Ohio, had threatened a filibuster over a controversial provision in the bill that effectively would have limited federal action against the officers, directors, lawyers and accountants of failed savings and loans. But he dropped his threat after the Office of Thrift Supervision, which is part of the Treasury Department, vowed to undertake what amounted to an end run around the provision.

The House had already approved the bill, which will make banking more convenient for Americans who live in one state and work in another. .

by CNB