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04/10/2024

Is America’s Banking System the System It Needs?

After nearly three decades of intense consolidation, is it time to reassess the benefits of mergers and acquisitions?

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About the authors
Written by
Jack Milligan Editor-at-Large

Jack Milligan is editor-at-large of Bank Director magazine, a position to which he brings over 40 years of experience in financial journalism organizations. Mr. Milligan directs Bank Director’s editorial coverage and leads its director training efforts. He has a master’s degree in Journalism from The Ohio State University.

Jack Milligan
Editor-at-Large
On September 29, 1994, President Bill Clinton signed into law the Riegle-Neal Interstate Banking and Branching Efficiency Act during a ceremony in the historic Cash Room at the U.S. Department of the Treasury. The purpose of the bill was to consolidate a highly fragmented U.S. banking system, and Clinton was quoted as saying, “Today this country took a historic step, one that had been delayed for much too long, to help American banks better meet the needs of our people, our communities and our economy.” The legislation had received bipartisan support in the U.S. Congress, but there were still deep…

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WRITTEN BY

Jack Milligan

Editor-at-Large

Jack Milligan is editor-at-large of Bank Director magazine, a position to which he brings over 40 years of experience in financial journalism organizations. Mr. Milligan directs Bank Director’s editorial coverage and leads its director training efforts. He has a master’s degree in Journalism from The Ohio State University.