Press Room
 

FROM THE OFFICE OF PUBLIC AFFAIRS

October 22, 1999
LS-169

STATEMENT BY TREASURY SECRETARY LAWRENCE H. SUMMERS

This legislation, if successfully completed, would at the end of the 20th century replace archaic financial restrictions with a legal foundation for a 21st century financial system. It would benefit consumers by providing them with more choice, lower prices through competition, new privacy protections, and continued investment in their communities. It would benefit the economy by promoting financial innovation, lower capital costs and greater international competitiveness.