Congressman Paul Gillmor (R-Ohio) delivered the following opening statement at the Financial Services Committee Hearing on April 25, 2007 about his bill, H.R. 698, the Industrial Bank Holding Company Act of 2007. This bill would maintain the historic separation between banking and commerce by restricting commercial companies from owning banks. Rep. Gillmor is the Ranking Member of the Subcommittee on Financial Institutions and Consumer Credit.
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