Amends the Bank Holding Company Act of 1956 to prohibit bank holding companies and their subsidiaries from selling property and casualty insurance as principals, agents, or brokers.
Exempts from such prohibition credit insurance and insurance sold in a community that has a population less than 5,000 or that the bank holding company demonstrates has no other adequate insurance agency facilities.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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