109 HR 6323 IH: Auto Loan Limit Adjustment Act U.S. House of Representatives 2006-11-14 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 109th CONGRESS 2d Session H. R. 6323 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.

1.

Short title

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

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..