Summary of activities : a report of the Committee on Banking, Finance, and Urban Affairs, House of Representatives

108 Pages·1995·7.8 MB·English

by  United States. Congress. House. Committee on Banking, Finance, and Urban Affairs

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91G
94th Congress
} COMMITTEE PRINT
2d Session
,DZPO
SUMMARY OP ACTIYITIES
94TH CONGRESS
REPORT
OF THE
COMMITTEE ON BANKING, HOUSING AND
URBAN AFFAIRS
UNITED STATES SENATE
DECEMBER 1976
Printed for the use of the Committee on Banking, Housing and
Urban Affairs
U.S. GOVERNMENT PRINTING OFFICE
80-607 WASHINGTON : 1976
COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS
WILLIAM PROXMIRE. Wisconsin. Chairman
JOHN SPARKMAN, Alabama JOHN TOWER, Texas
HARRISON A. WILLIAMS, Jr., New Jersey EDWARD W, BROOKE, Massachusetts
THOMAS J. McIntyre, New Hampshire BOB PACKWOOD, Oregon
ALAN CRANSTON, California JESSE HELMS, North Carolina
ADLAI E. STEVENSON, lUinois JAKE GARN, Utah
JOSEPH R. BIDEN, Jr., Delaware
ROBERT MORGAN, North Carolina
Subcommittees
Housing and Urban Affairs International Finance
SPARKMAN, Chairman STEVENSON, Chairman
PROXMIRE BROOKE PROXMIRE PACKWOOD
WILLIAMS TOWER WILLIAMS TOWER
MCINTYRE PACKWOOD MCINTYRE HELMS
CRANSTON GARN CRANSTON GARN
BIDEN BIDEN
Financial Institutions Production and Stabilization
McIntyre, chairman CRANSTON, Chairman
PROXMIRE TOWER STEVENSON HELMS
SPARKMAN BROOKE BIDEN PACKWOOD
WILLIAMS HELMS
STEVENSON
Consumer Affairs
BIDEN, Chairman
Securities
PROXMIRE GARN
MORGAN BROOKE
WILLIAMS, Chairman
MCINTYRE BROOKE
CRANSTON TOWER Small Business
STEVENSON HELMS
MORGAN, Chairman
MORGAN
SPARKMAN GARN
MCINTYRE PACKWOOD
(11)
Staff, Committee on Banking, Housing and Urban Affairs
Kenneth A. McLean, Staff Director
Anthony T. Cluff, Minority Staff Director
Mary Frances de la Pava, Chief Clerk
Kathleen M. Gaseor, Assistant Chief Clerk
John Patten Abshire Carolyn Jordan
Elinor B. Bachrach Robert L. Kuttner
Florence Barr Robert R. Locklin
Adrian Gilmore Bray Stanley J. Marcuss*
Thomas A. Brooks Charles L. Marinaccio
Edward C. Dicks Marion R. Mayer
Maria A. Dellisanti Anne B. Miller
Ginger J. Dono Stephen J. Paradise
Rose Marie Fried Bernard W. Queen
Laurie E. Greene Ralph J. Rohner
John B. Henderson Lamar Smith
Terri M. Swann
William R, Weber
Subcommittee on Housing and Urban Affairs
Carl A. S. Coan, Staff Director
Jeremiah S. Buckley, Minority Counsel
Joyce E. Andrews Robert E. Malakoff
JoAnn S. Barefoot James H. Schuyler
LeAnn R. Hensche Doris I. Thomas
Subcommittee on Securities
Clifford Alexander Maryanne Kowaleski
John C. Jennison Howard A. Menell
Lula Joyce Monica M. Walters
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(III)
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STATEMENT OF THE CHAIRMAN
During the 94th Congress, the Senate Committee on Banking,
Housing and Urban Affairs continued its legislative and oversight
activities. These activities seem to increase in volume and intensity
as each session of the Congress progresses.
This Summary of Activities has been prepared for Members of
the Senate and House of Representatives and for the public, to be
used as a research tool and historic reference outlining the activities
of the committee and its subcommittees during 1975 and 1976.
The full committee held 59 days of legislative hearings, 52 days of
oversight hearings and 33 days of markup sessions. The subcom¬
mittees altogether held 52 days of legislative hearings, 38 days of
oversight hearings, and 11 days of markup sessions. In addition, the
committee held 27 nomination hearings during the 94th Congress,
all but two of which were acted on favorably.
A total of 262 bills and resolutions were referred to the committee;
the committee reported to the Senate 49 times; and 21 measures
considered by the Members of the Committee were enacted into law.
The committee published 18 special reports concerned primarily
with its oversight responsibilities, staff studies, and a consumers
guide.
I am pleased with the record made by the committee in the 94th
Congress. I believe the committee acted upon a wide variety of
meaningful legislation and timely oversight, all of which is documented
in this publication.
William Proxmire.
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https://archive.org/details/summaryofactivit1976unit
CONTENTS
Page
Statement of the chairman_ v
Jurisdiction, procedures, and powers of the committee_ 1
Rules of the Committee_ 5
Action on bills and resolutions_ 11
Nominations_ 13
Legislation Originating in Committee
Bills enacted into law:
Extend Defense Production Act and Authorization of Appropriations
for National Commission on Productivity and Work QuaHty
(Pubhc Law 94-42)_ 17
Emergency Homeowner’s ReUef Act (PubHc Law 94-50)_ 17
Authority for Federal Savings and Loans to Act as Custodian of
Individual Retirement Accounts (Public Law 94-60)_ 18
Council on Wage and Price Stability (Public Law 94-78)_ 18
International Economic Policy Act (Public Law 94-87)_ 19
Defense Production Act Amendments of 1975 (Public Law 94-152)_ 19
Yeager Medal (Public Law 94-179)_ 20
Exemption for Existing DweUings from Flood Insurance Sanctions
(Public Law 94-198)_ 21
Home Mortgage Disclosure Act (Public Law 94-200)_ 21
Real Estate Settlement Procedures Act Amendments (Public Law
94-205)_ 22
Extension of State Taxation of Depositories Act (Pubhc Law 94-222) . 23
Charles Carroll Medal (Public Law 94-257)_ 24
Congressional Resolution passed:
Conduct of Monetary Policy (H. Con. Res. 133)_ 25
Bills that passed both Senate and House:
Emergency Housing Act of 1975 (H.R. 4485)_ 26
Ethnic Heritage Bicentennial Commemorative Medals Act (S. 371)_ 26
Building energy conservation standards (H.R. 8650)__ 27
Increased loan amounts for mobile homes (H.R. 9852)_ 28
Bills that passed the Senate:
Securities Act amendments (S. 2136)_ 29
National Neighborhood Policy Act (S. 3554)_ 29
Corrupt overseas payments by U.S. business enterprises (S. 3664)_ 30
Variable rate mortgages (S. Con. Res. 45)__ 30
Disapproving budget deferral re: homeownership assistance under
section 235 (S. Res. 61)_ 31
BiUs reported to the Senate:
Emergency Homeowners Rehef Act (S. 1457)_ 32
Emergency Housing Act of 1975 (S. 1483)_ 32
Financial Institutions Supervisory Act Amendments of 1975 (S. 2304) _ 33
Voluntary Municipal Reorganization Act of 1975 (S. 2615)_ 33
Public deposit legislation (H.R. 3035)- 34
Federal Reserve reform (H.R. 12934)_ 34
Bills on which hearings were held:
Federal Bank Commission Act (S. 2298)_ 36
Full Employment and Balanced Growth Act of 1976 (S. 50)_ 36
Condominium Consumer Protection Act of 1975 (S. 2273)_ 37
Electronic funds transfer moratorium (S. 245)_ 38
Financial Support Fund Act (S. 1097)_ 38
Regulation of standby letters of credit (S. 2347)_ 39
Energy Independence Authority Act of 1975 (S. 2532)_ 39
Competition in Banking Act of 1976 (S. 2721)-40
Energy Conservation Act of 1976 (S. 2932)__ 40
Construction of Denver Mint (H.R. 5620)---- 41
Investment Policy Act of 1976 (S. 3693)_ 4:1
(vn)
VIII
Subcommittee on Housing and Urban Affairs
Bills enacted into law: Pas®
Increased loan amounts for mobile homes (Public Law 94-173)_ 43
Housing Act Amendments of 1976 (Public Law 94-375)_ 43
BiU that passed the Senate:
Urban mass transit amendments (S. 622)_ 45
Bills on which hearings were held:
Supplemental Community Development Employment Assistance
Act of 1976 (S. 2986)___ 46
Abandonment Disaster Demonstration Relief Act of 1975 (S. 1988)_ 46
Subcommittee on Financial Institutions
Bills that passed the Senate:
Financial Institutions Act (S. 1267)_ 48
Emergency Bank Holding Company Acquisition Act (S. 2209)_ 48
BiUs reported to the Senate:
Reorganization of the National Credit Union Administration (S. 3312). 50
Moratorium on conversions of savings and loan associations and
mutual savings banks (S. 3802)_ 50
Bills on which hearings were held:
Foreign Bank Act of 1975 (S. 958)_ 52
Right to Financial Privacy Act (S. 1343)_ 52
National Consumer Cooperative Bank Act (S. 2631)_ 53
Foreign bank legislation (H.R. 13876)_ 53
Subcommittee on Securities
Bill enacted into law:
Securities acts amendments (Public Law 94-29)_ 55
BiU reported to the Senate:
Investment Advisers Act Amendments of 1975 (S. 2849)_ 57
BiUs on which hearings were held:
Foreign Investment Act of 1975 (S. 425)_ 58
Municipal Securities FuU Disclosure Act of 1976 (S. 2969)_ 58
Subcommittee on International Finance
BiU enacted into law:
Amendment of Bretton Woods Agreements Act (Public Law 94-564) _ > 59
BiU passed by Senate and House:
Extension of the Export Administration Act (S. 3084)_ 60
Resolution passed by the Senate:
Extending appropriations for the Council on International Economic
Policy (S.J. Res. 97)_ 61
Bill reported to the Senate:
Foreign Boycotts and Domestic and Foreign Investment Improved
Disclosure Acts of 1975 (S. 953)...... 62
Subcommittee on Consumer Affairs
Bills enacted into law:
Equal Credit Opportunity Act amendments (Public Law 94-239) — 63
Consumer Leasing Act (Public Law 94-240)_ 63
BiU on which hearings were held:
Qui Tam and Federal Reserve Board procedures (S. 3008)_ 65
Subcommittee on Small Business
Bill enacted into law:
Small Business Development Act (Public Law 94-305)_ 66
Bills that passed the Senate:
Amending the Small Business Act (S. 1839)_ 68
Small Business Investment Act Amendments (S. 2613)_ 68
Amending the Small Business Act (S. 3369)_ 69
Amending the Small Business Investment Act of 1958 (S. 3370)_ 70
DC
Bills on which hearings w'ere held: Page
New sources of financing for minority enterprises (S. 1124)_ 71
Small Business Act amendments (S. 1547)_ 71
Amending the Small Business Act (H.R. 4888)_ 72
Oversight Activities
Full committee:
Bank holding company credit insurance subsidiaries_ 73
Community development block grant program_ 73
Conduct of monetary policy_ 74
Consumers guide to banking_ 74
Consumer protection activities of Federal banking agencies_ 75
Corporate takeovers_ 76
Council on Wage and Price Stability_ 76
Equal opportunity in lending_ 77
Financial disclosure by banks and bank holding companies_ 77
GNMA emergency tandem plan__-_ 78
Home Mortgage Disclosure Act and Equal Credit Opportunity Act-- 78
Housing management, foreclosures and abandonments_ 79
Lockheed loan guarantee_ 79
Multinational banking_ 79
National housing goals_ 79
New York City loan program_ 80
Problem banks_ 80
Real Estate Settlement Procedures Act of 1974_ 80
Secondary mortgage market_ 81
Treasury Department’s contract compliance program for financial
institutions_ 81
Variable rate mortgages_ 82
Housing Subcommittee:
Financial condition of local housing authorities_ 83
Federal flood insurance program_ 83
Housing goals and mortgage credit: 1975-80_ 83
Rural housing programs_ 84
Development of new types of mortgage market instruments_ 84
Financial Institutions Subcommittee:
NOW Accounts_ 85
State and local ‘‘doing business” taxes on out-of-state financial in¬
stitutions_ 85
Conversions of savings and loans and mutual savings banks- 86
Bank branching_ 86
Securities Subcommittee:
Securities activities of commercial banks_ 87
International Finance Subcommittee:
United States-Soviet grain agreement, S. 2492 and other matters- 88
Production and Stabilization Subcommittee:
Cost Accounting Standard 409_ 89
Consumer Affairs Subcommittee:
Fair Credit Billing Act two-tier pricing and procedures for Federal
Reserve Board regulation writing_ 90
Small Business Subcommittee:
The problems of small business_ 91
The role of the small businessman_ 91
SB A set-aside, lease guaranty and surety bond programs- 92
Committee publications_ 93
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