Insurance agency activities involve less risk than insurance underwriting and other principal activities. Bank holding companies would continue to be required to become a financial holding company to engage in insurance underwriting activities. 14.
Repeal certain reporting requirements imposed on the insiders of insured depository institutions  Amendment repeals the provisions of current law that require: (i) an executive officer of a bank to file a report with the bank’s board of directors concerning the officer’s indebtedness to other banks; (ii) a member bank to file a separate report each quarter concerning any loans made to its executive officers during the quarter; and (iii) executive officers and principal shareholders of a bank to report to the bank’s board of directors any loans received from a correspondent bank.