University of Richmond UR Scholarship Repository Master's Theses Student Research Spring 4-1988 Thrift competition and its impact on financial institution mergers and acquisitions in the Richmond, Virginia RMA Kenneth W. Vance Follow this and additional works at: http://scholarship.richmond.edu/masters-theses Part of the Business Administration, Management, and Operations Commons Recommended Citation Vance, Kenneth W., "Thrift ompec tition and its impact on financial institution mergers and acquisitions in the Richmond, Virginia RMA" (1988). Master's Theses. Paper 1091. This Thesis is brought to you for free and open access by the Student Research at UR Scholarship Repository. It has been accepted for inclusion in Master's Theses by an authorized administrator of UR Scholarship Repository. For more information, please contact
[email protected]. UNIVERSITY OF RICHMOND LIBRARIES 1111111111111111111111111111111111111111111111111111111111111111 3 3082 01027 9700 r THRIFT COMPETITION AND ITS IMPACT ON FINANCIAL INSTITUTION MERGERS AND ACQUISITIONS IN THE RICHMOND, VIRGINIA RMA Prepared By: Kenneth w. Vance Date: April 8, 1988 Class: EMBA 590 Advisor: James Patrick Raines, Ph.D. survey and Review of Literature Commercial banking has been subject to antitrust review for only a few decades. In 1948, the Transamerica Corporation was charged by the Board of Governors of the Federal Reserve system with a violation of Section 7 of the Clayton Act when it acquired controlling interest in several independent banks in California.Cl) At the time of the acquisitions, the banks in question were in direct competition with one or more of the banks already controlled by Transamerica Corporation. Moreover, Transamerica corporation held a major interest in Bank of America.