George Banks is related to the Banks family from ‘’Mary Poppins''.
He shares their last name and even the first name of the father. Plus, I looked up somewhere that his character was, in fact, named after George Banks from Mary Poppins. He may have been named after him even in-film. Maybe his parents or grandparents at some point moved from England to America. George Banks is also related to Stanley Banks from the original Father of the Bride film.
Stanley Banks is probably George's paternal uncle (probably not his father, since Stanley Banks doesn't have a son named George in the 1950 film). His middle name "Stanley" is after him. The film is in the same universe as My Girl.
There are a lot of striking links: they both came out in 1991, they both use the song "My Girl" prominently, they feature each of the Culkin brothers.