Financial Services Competitive Equity Act

[AI summary unavailable — showing source text] Financial Services Competitive Equity Act - Title I: Financial Institutions Competitive Equity - Authorizes depository institution holding companies to engage in activities of a financial nature, insurance underwriting and brokerage, real estate development and brokerage, and certain securities activities. Includes in such activities dealing in, underwriting and purchasing government and municipal securities, sponsoring and managing investment companies and underwriting the securities thereof. Amends the Bank Service Corporation Act to rename such Act the Depository Institution Service Corporation Act. Sets forth limitations on the amount a depository institution may invest in depository institution service corporations. Describes the depository institution service corporation activities permissible for depository institutions. Provides grandfather rights to service corporation investors and for service corporation activities where an investment was made and the activities were commenced prior to July 1, 1983. Authorizes any association, which is organized and continues to operate in the mutual form, to invest in the capital stock obligation or other securities of any corporation (…