Word: crowleys
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...Considered raising the limit on insured bank deposits. To the 13,719 U. S. banks now insured (up to $5,000 per account) by Federal Deposit Insurance Corp., Chairman Leo Crowley sent a letter asking for statistics on the number of their accounts over $5,000 in size. Recalling that Chairman Henry Steagall of the House Banking Committee had advocated increased coverage, Chairman Crowley said FDIC was willing to raise the ante if the additional risk were "very small." Previous estimates showed that about 95% of U. S. deposits were covered by the present limit. But a new estimate...
...immediately apparent that Acting Comptroller Marshall Diggs, FDIC Chairman Leo Crowley and Secretary of the Treasury Morgenthau preferred to regard bank regulations as safeguards for depositors. Last week, after hot & heavy debate, the four reached a compromise "through the usual democratic processes of give & take." The National Association of Supervisors of State Banks approved. So did Franklin Roosevelt. The new rules go into effect July first. Important changes...
...Diggs and Mr. Eccles are now on a committee with Chairman Leo Crowley of the Federal Deposit Insurance Corp. and Economic Adviser Cyril Upham of the Treasury for the specific purpose of rearranging and simplifying bank examinations and investment policies. Arrayed with Mr. Diggs are Messrs. Crowley and Upham. Mr. Eccles is a distinct minority. When the committee sends its report to President Roosevelt Mr. Eccles will probably send a report too. Mr. Roosevelt will then have to decide between stiff bank control and easy money...
William D. McSweeney -- Miss Ann Crowley, Pembroke College...
...three Federal agencies which supervise U. S. banking activities-the Federal Reserve System, Federal Deposit Insurance Corp. and Comptroller of the Currency. Franklin Roosevelt asked for such action in an inconspicuous part of his April 14th message to Congress. Last week Secretary of the Treasury Morgenthau, FDIC Chairman Leo Crowley, Acting Comptroller of the Currency Marshall Diggs and several Federal Reserve officers sat down to see if the simplification could not be accomplished without legislation. First problem tackled was bank examinations, now conducted differently by all three agencies. At week's end it was reported the conferees agreed...