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121656 1 (1983-06-16)

handle is hein.gao/gaobactbl0001 and id is 1 raw text is: 




            United States General  Accounting Office
                    Washington, D.C.   20548

                                       FOR RELEASE ON 'DELIVERY
                                       EXPECTED AT 9:30 a.m.
                                       JUNE 16, 1983

                         STATEMENT OF

                      CHARLES A.  BOWSHER

           COMPTROLLER GENERAL OF THE  UNITED STATES

                          BEFORE THE

             SENATE COMMITTEE ON BANKING,  HOUSING

                       AND URBAN AFFAIRS

                              ON

          CHANGES IN THE FINANCIAL SERVICES  INDUSTRY

            AND THEIR IMPACT ON FEDERAL REGULATION

Mr. Chairman:

     I am especially pleased to be here to discuss  one of the

most important questions in the  financial services industry

today:  How is that industry changing and what  should be the

Government's role with respect  to those changes?  I think we

all realize that the changes are both  rapid and complex.  It

is appropriate, therefore, that we move with  deliberate speed

to address the problems caused by  these changes.  I say

deliberate speed because our work  to date indicates that some

important questions need to be answered before  the Congress

enacts major legislation.




                                                  121656

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