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Interstate Banking: Current Status and Unfinished Agendas

Sandra B. McCray
Publius
Vol. 17, No. 3, The State of American Federalism, 1986 (Summer, 1987), pp. 179-194
Published by: Oxford University Press
Stable URL: http://www.jstor.org/stable/3330062
Page Count: 16
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Interstate Banking: Current Status and Unfinished Agendas
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Abstract

In 1986, most of the centuries-old barriers against interstate branch banking fell. By the end of the year, thirty-seven states had passed legislation authorizing some form of interstate branch banking. Moreover, two federal judicial decisions had cleared the way for interstate banking by restricting state regulatory authority over interstate branch banking when it is conducted either through a shared-use automatic teller machine or by a "nonbank bank." These developments have dramatically changed the nature of the business of banking, creating an entirely new legislative agenda for states. High on the list of the items that states must now consider are regulatory and tax parity among competing financial institutions; multiple taxation of financial institutions that do business in several states; tax avoidance by out-of-state banks; and out-dated jurisdictional standards.

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