Banking: The Saxon Crusade

U.S. bankers are smiling at the customer these days, but they are giving each other a colder eye than ever. State-chartered banks are accusing the nationally chartered banks of attempting to move in on them. Both state and national banks are squabbling with the aggressive savings and loan associations, which have recently jacked their interest rates as high as 5% to tempt savers. Amid their competition for customers, all the banks are worried about growing Government regulation: the Justice Department is striving to block several bank mergers, and the House Banking Committee, after years of torpor, is striking out...

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