Word: litaneous
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Dates: during 1990-1999
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...small part of the bank's expenses, which include purchasing, installing and maintaining the machines as well as paying rent at nonbank locations. "Banks are being singled out for special treatment," Magnani says. "What other industry has been told it can't charge for products and services?" Concurs Robert Litan, a Brookings Institution economist who has completed a study of ATM fees for the American Bankers Association: "There is no justification for imposing surcharge bans on any type of ATM owner...
...report released last week and try to tighten their supervision of banking operations. The report noted that 22 of the 406 banks that failed in 1988 and 1989 never appeared on the FDIC's problem-bank list. "Banks have been able to hide their nonperforming loans," contends Robert Litan, a banking expert at the Brookings Institution. Such subterfuge would be more difficult if banks were to undergo annual on-site inspections. Until 1956 federal regulations required two such audits a year, but by the 1980s some banks saw an inspector only once every two years, or even less often...
...antitakeover trend got a big boost last week when the U.S. Supreme Court, in clearing the way for California to challenge the merger of two major supermarket chains, ruled unanimously that states can sue to prevent or undo anticompetitive mergers. "The court decision is a blockbuster," says Robert Litan, a senior fellow at the Brookings Institution. "There are 50 loose cannons out there, 50 attorneys general who can now stop a merger...
...shape of finance and credit in the U.S. is changing. More than a decade of ever loosening regulation of credit terms and conditions led first to financial debacles in savings-and-loan associations and currently to widespread concern about the health of many banks in general. Says Robert Litan, a senior fellow at Brookings Institution: "One could make the case that our banking system is more fragile now than at any time before a recession...