NationsBank

NationsBank-BankAmerica $62 Billion Merger Creates First Coast-to-Coast National Bank

1998-09-30 00:00:00 +0000 UTC | Importance: 7/10

NationsBank completes its $62 billion acquisition of BankAmerica Corporation, creating the first truly coast-to-coast national bank in U.S. history and taking the Bank of America name. The merger occurs just one year before the formal repeal of Glass-Steagall, demonstrating how banking consolidation …

NationsBank BankAmerica Federal Reserve Department of Justice Hugh McColl banking-consolidation mergers glass-steagall deregulation market-concentration +1 more

Riegle-Neal Act Enables Nationwide Bank Consolidation, Mortgage Market Transformation

1994-09-29 00:00:00 +0000 UTC | Importance: 7/10

President Clinton signs the Riegle-Neal Interstate Banking and Branching Efficiency Act, removing Depression-era restrictions that prevented banks from operating across state lines. The law enables massive consolidation in the banking industry, with the number of commercial banks declining from over …

President Bill Clinton Senator Donald Riegle Representative Stephen Neal American Bankers Association NationsBank +1 more banking-deregulation housing-policy consolidation regulatory-capture housing