Bank Holding Companies, 1948-1950

File — Box: 18

Identifier: III

Staff Only

Scope and Contents

Statements, drafts, and correspondence relating to bank holding company legislation, initially aimed at preventing a monopoly by the Bank of America, a holding company of the Transamerica Corporation. After the bank's rapid expansion in the western United States, lawmakers introduced several bills to limit its growth, but none passed. The Bank of America was not restrained until a 1947 investigation prompted by the Federal Reserve board of governors. Some news accounts reported that Eccles' involvement in the matter was what moved Truman to ask for his resignation as chairman of the board in 1948.

Dates

1948-1950

Language of Materials

From the Collection: Collection materials are in English.

Conditions Governing Access

Twenty-four hour advanced notice encouraged. Materials must be used on-site. Access to parts of this collection may be restricted under provisions of state or federal law.