At year-end 1991, Congress enacted fundamental deposit insurance reform for banks and thrifts--the FDIC Improvement Act. This reform followed the failure of more than 2,000 depository institutions in the 1980s. Many failed because the incentive incompatibility of the structure of federal...

Universal banks can offer the entire range of financial services within the bank or through subsidiaries. Most countries permit universal banking. In contrast, the United States is served only by specialized banks. Universal banking, particularly in Germany, is contrasted with specialized...