Trying to make Texas a major money center.

The article reports that four major bank merges took place in Texas following the U.S. Federal Reserve Board's approval to acquisitions. It is stated that representative offices have been established by 17 foreign banks in the state and plans to come in have been announced by at least 10 more banks. It is mentioned that to allow banks to meet the foreign invasion, the Fed has finally decided to allow acquisitions in the state after putting brakes on acquisitions in the early 1970s.