Two months ago Franklin Roosevelt said he wanted the various systems of bank examinations standardized. Last week from this acorn had sprung an oak: exams were not only unified but the banks' lending policies had been greatly changed by a new extension of New Deal credit control.
That four different systems of examinations—by the Federal Reserve, Federal Deposit Insurance Corp., the Comptroller of the Currency, and the States—bothered bankers was only one of the reasons the Administration wanted them unified. Of more immediate concern was a belief that the various stiff restrictions on bank...
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