Impact on U.S. Banking and Finance

Abstract

The banking structure in the United States is unique in many respects. The primary jurisdiction of each of the fifty states has yielded fifty different state banking systems, each with its own rules on branching, ease of entry for new banking entities, and degree of monopolistic concentration. At one extreme stand New York and California with highly competitive banking market structures. At the opposite extreme are a number of states which do not permit any branch banking and in which exist pockets of geographically separated non-competing banking markets. This latter category of state banking system generally does not permit foreign banking corporations to operate within its borders and does not permit control of state banks by foreign shareholders.

Before I built a wall I’d ask to know

what I was walling in or walling out.

Robert Frost