BANKING, HOUSING AND URBAN AFFAIRS
UNITED STATES SENATE

NINETY-FOURTH CONGRESS

SECOND SESSION

ON

S. 2721

TO AMEND THE BANK HOLDING COMPANY ACT AND THE
BANK MERGER ACT TO RESTRICT THE ACTIVITIES IN WHICH
REGISTERED BANK HOLDING COMPANIES MAY ENGAGE AND
TO CONTROL THE ACQUISITION OF BANKS BY BANK HOLDING
COMPANIES AND OTHER BANKS

69-452 O

MARCH 4 AND 5, 1976

Printed for the use of the Committee on Banking,
Housing and Urban Affairs

U.S. GOVERNMENT PRINTING OFFICE
WASHINGTON: 1976

Edward J. Kremer, Independent Insurance Agents of America_

Jack E. Bobo, National Association of Life Underwriters_

Edward J. Schmuck, on behalf of Connecticut Mutual Life Insurance Co.,

the Equitable Life Assurance Society of the United States, Massachu-

setts Mutual Life Insurance Co., the Mutual Life Insurance Co. of

New York, New England Mutual Life Insurance Co., and the North-

western Mutual Life Insurance Co.--

Arthur F. F. Snyder, former president, Bank of the Commonwealth_

Bruce Thomas, Mortgage Insurance Companies of America___

FRIDAY, MARCH 5

Edward I. O'Brien, president, Securities Industry Association;_ accom-

panied by James W. Walker, Jr., executive vice president; and John M.

Liftin, counsel...

138

Robert L. Augenblick, president, Investment Company Institute; accom-

panied by Ramsay Potts, counsel...

148

Robert L. McMullen, American Society of Travel Agents; accompanied

by Paul S. Quinn, counsel

161

Robert P. Mallon, National Auto Dealers Association, Inc., accompanied

by Pierre J. LaForce, counsel _ _

John Delany, on behalf of the Courier and Armored Car Industries;

accompanied by Charles S. Allen, Jr., president, National Armored

Car Association..

Bernard Goldstein, Association of Data Processing Organizations.......

179

236

247

ADDITIONAL STATEMENTS AND DATA

Association of Data Processing Service Organizations, Inc.:

Comments before the Board of Governors of the Federal Reserve

System in re proposed amendments to Regulation Y to implement

Bank Holding Company Act Amendments of 1970--

311

Letters from J. L. Dreyer, executive vice president, to:

Comptroller of the Currency.

303

Federal Reserve Board...

301

Letter to William B. Camp, Comptroller of the Currency, dated

November 22, 1966___

321

Position paper on the "checkless/cashless" society-

305

Position paper on the incremental marketing of computer services

as an unlawful tie-in sale_.

277

Position paper on the incremental marketing of computer services

generally

261

Federal Reserve Board, letter from Wm. McC. Martin, Jr., enclosing report
on the sale of credit life insurance by or through banks in connection
with their lending operations---

64

Hanna and Kremer Insurance Inc., letter to William N. Hastings, Jr., from
prospective customer..

112

(III)