Business: A Program for a Banking Free-for-All

If the Nixon Administration gets its way in Congress, banks and S and Ls could actually heighten their bidding for savings in the future—and broaden it into a battle to provide the most generous terms on mortgage loans, personal loans and checking accounts as well. That is the goal of a sweeping set of legislative proposals that the Treasury unfurled late last week. The Administration will ask Congress to:

>Abolish, over 5½ years, all ceilings on the interest rates that banks and S and Ls can pay to savers. The savings institutions could then pay, even on ordinary passbook accounts, any rate...

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