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Scope and Content Note
This report argues against the Commission's recommendations that New York State enact legislation authorizing banks to expand the scope of their financial activities and services. The report argues that "The proper scope of banking activity [is a] fundmentally national question; therefore, national legislation must precede any action by individual states.
The report considers such matters as: background of federal involvement in regulation of financial institutions; developments in the financial services marketplace such as federal deregulation; pending litigation; regulatory and legislative proposals; why New York State should not act unilaterally.
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