BANKING: Turnabout

By gobbling big & little banks and begetting new ones, crusty, crafty old (78) Amadeo P. Giannini had built his Bank of America into the world's biggest (522 branches). His Transamerica Corp., which owns 23% of the bank, had become the world's biggest bank holding company. Many big & little bankers have viewed his bigness with alarm, but none more loudly than Federal Reserve Board Member Marriner S. Eccles.

Last week, in FRB's Washington hearing room, Giannini and Eccles met face to face. In the first use of its antitrust powers in 34...

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