It would also be extremely helpful, especially if enacted prior to interstate branching becoming fully operational, if the Congress were to pass the so-called home state rule, which would place state-chartered banks on an equal footing with national banks with regard to permissible activities of branches in a host state.
Although this new era of finance was widely supported, a critical ingredient was missing on the road to expansion and innovation: a framework that would limit dangerous excesses or the development of perverse incentives.