Financial Deregulation: Current Status and Legislative Issues (CRS Report for Congress)
| Release Date |
April 4, 1985 |
| Report Number |
IB83015 |
| Authors |
F. Jean Wells, Economics Division |
| Source Agency |
Congressional Research Service |
Summary:
Federal and state laws provide the framework for the regulation ofdepository financial institutions (commercial banks, savings and loanassociations, mutual savings banks, and credit unions). In the past twoCongresses, two massive pieces of legislation affecting the regulation ofdepository institutions have been enacted: P.L. 96-221, the DepositoryInstitutions Deregulation and Monetary Control Act of 1980, and P.L. 97-320,the Garn-St Germain Depository Institutions Act of 1982. Together theyencompass the most sweeping regulatory changes for depository institutionssince the 1930s. They point to a significant new direction for theregulation of financial services -- toward more reliance on marketplaceforces as a self-regulatory mechanism than was previously the case.Questions of interest to the 98th Congress include how deregulation isworking, and what policy issues it raises. This issue brief reviewsderegulation to date and its effects on financial markets. Current policyissues are also identified.
