[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6323 Introduced in House (IH)]







109th CONGRESS
  2d Session
                                H. R. 6323

    To amend the Home Owners' Loan Act to remove the limitation on 
  investments by Federal savings associations in consumer auto loans.


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                    IN THE HOUSE OF REPRESENTATIVES

                           November 14, 2006

  Mr. Kanjorski (for himself and Mr. Royce) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL



    To amend the Home Owners' Loan Act to remove the limitation on 
  investments by Federal savings associations in consumer auto loans.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Auto Loan Limit Adjustment Act''.

SEC. 2. REMOVAL OF LIMITATION ON INVESTMENTS IN AUTO LOANS.

    (a) In General.--Section 5(c)(1) of the Home Owners' Loan Act (12 
U.S.C. 1464(c)(1)) is amended by adding at the end the following new 
subparagraph:
                    ``(V) Auto loans.--Loans and leases for motor 
                vehicles acquired for personal, family, or household 
                purposes.''.
    (b) Technical and Conforming Amendment Relating to Qualified Thrift 
Investments.--Section 10(m)(4)(C)(ii) of the Home Owners' Loan Act (12 
U.S.C. 1467a(m)(4)(C)(ii)) is amended by adding at the end the 
following new subclause:
                                    ``(VIII) Loans and leases for motor 
                                vehicles acquired for personal, family, 
                                or household purposes.''.
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