It makes sense to let banks diversify into securities underwriting, insurance and other financial services.

The bill would also place restrictions and conditions on banks entering securities underwriting.

Revenues from investment banking activities slipped 12 percent, to $226 million, because of the fall-off in securities underwriting.

Morgan said its profits rose 14 percent on strength in nonlending activities like securities underwriting and trading.

Banks would be allowed to open branches across the country and offer their customers insurance, mutual funds and securities underwriting.

Corporate finance revenue rose 45 percent as a result of an increase in securities underwriting.

It would also have given banks only limited entrance into new securities underwriting.

Glass-Steagall prohibits banks from being "principally engaged" in securities underwriting.

Q. The argument is that if banks get into these new areas, such as securities underwriting, the price of those products will drop.

Most want to dismember costly rules that prevent banks from operating across state lines or offering financial services like securities underwriting.