IRS under fire as critics push for tax reform debate
A broad critique of the Internal Revenue Service highlights its reach into private finances and the costly, confusing tax system. Think tanks and lawmakers cite high compliance costs, lengthy forms, and penalties, while advocates warn of privacy intrusions and ambiguous enforcement.
MENTIONED IN THIS ARTICLE
New York
Internal Revenue Service
IRS
Plex
Dan Pilla
Small banks still thriving in Avery County Bank
In Newland North Carolina the Avery County Bank operates with one main office and no ATM or branches. President Martha Guy emphasizes plain banking and steady local focus while larger banks grow through mergers. The bank ranks highly among community banks and serves farmers, loggers, and local business owners with trusted service.
MENTIONED IN THIS ARTICLE
Newland
N.C
Avery County Bank
Martha Guy
Charlotte
NationsBank Corp
Hugh McColl Jr
BankAmerica
Guy
Edwin C. Guy
Owen Spry
Spruce Pine
Newland Bank
American Banker
David Hanson
Raleigh
Appalachian
South
Dennis McClellan
Big Guy
Mergers raise concern over bank size and taxpayer risk
Washington lawmakers and consumer advocates warn that the surge in large bank mergers could create institutions that are too big to fail and stay based at taxpayer expense. Critics compare to the 1980s S L crisis and fear reduced competition could raise fees as banks expand into securities insurance and real estate.
MENTIONED IN THIS ARTICLE
Washington
S&l
Congress
Arlen Specter
R-Pa
Specter
Bernard Sanders
Vermont
House Banking Committee
U.S
Asia
Sanders
International Monetary Fund
Thailand
Indonesia
South Korea
Biggest Bank Mergers Reshape U S Financial Landscape
NationsBank and BankAmerica announce a 62.5 billion merger while Banc One and First Chicago NBC plan a 28.9 billion deal to dominate the Midwest. First Union to acquire CoreStates for 19 billion. NationsBank buys Barnett for 14.6 billion. Wells Fargo acquires First Interstate for 14.2 billion. Antitrust and policy debates rise as lawmakers urge curb on consolidations.
MENTIONED IN THIS ARTICLE
U S
Nations Bank Corp
BankAmenca Corp
Banc One Corp
First Chicago
NBC Corp
First Union Corp
CoreStates Financial Corp
NationsBank Corp
Barnett Banks Inc
Wells Fargo & Co
First Interstate Bancorp
First Chicago Nbc Corp
Midwest
Citicorp
Travelers Group
Justice Department
Antitrust Division
CoreState
Coast to coast merger aims for national reach in banking
Bank of America and NationsBank executives tout a national network of nearly 15 000 free ATMs and uniform products as motivation to merge. They forecast convenience and lower costs but acknowledge limited immediate consumer enthusiasm and skepticism from advocates about higher fees and big-bank marketing. Analysts note customers resist hassle and doubt real service improvements.
MENTIONED IN THIS ARTICLE
San Francisco
Bank of America
NationsBank
BankAmerica
Kenneth D. Lewis
Consumers Union
Gail K. Hillebrand
Carl Schmitt
University National Bank & Trust Co
Palo Alto
Schmitt
University National
Nations Bank
Also Mentioned on This Page
The
White House
Robert Hall
Alvin Rabushka
Hoover Institution
Gary Robbins
Treasury Department
Aldona
Institute For Policy Innovation
Avery
Onny PaRonys
Frank Torres
Associated Press
Edmund Mierzwinski
U.S. Public Interest Research Group
BankAmerica Corp
Mark Schwanhausser
Knight Ridder Newspap