Bankamerica Corporation, a bank holding company subject to the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq. (1970), intends to merge with GAC Corporation, a non-banking company. Mergers between bank, holding companies and non-banking companies are generally forbidden by § 4 of the Bank Holding Company Act, 12 U.S.C. § 1843 (1970), but § 4(c)(8) permits the Federal Reserve...
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