U.S. Restructuring Legislation: Revising the International Banking Act of 1978, for the Worse?

The Federal Deposit Insurance Corporation Improvement Act of 1991 contains several sections dealing with the regulation of foreign banks in the United States. In this Article, Professor Lichenstein gives a critical analysis of the new foreign-bank legislation. After arguing that these legislative changes do not adequately address the emerging financial marketplace, Professor Lichtenstein offers a modest proposal for revising the U.S. regulatory structure.