[House Report 104-877]
[From the U.S. Government Publishing Office]



                                                 Union Calendar No. 479

104th Congress, 2d Session - - - - - - - - - - - - House Report 104-877


 
    SUMMARY OF ACTIVITIES A REPORT OF THE  COMMITTEE ON BANKING AND

                           FINANCIAL SERVICES

                        HOUSE OF REPRESENTATIVES

                      ONE HUNDRED FOURTH CONGRESS

                             SECOND SESSION

                        pursuant to house rules





January 2, 1997.--Committed to the Committee of the Whole House on the 
              State of the Union and ordered to be printed


              COMMITTEE ON BANKING AND FINANCIAL SERVICES
                      One Hundred Fourth Congress

                                 ------                                
  JAMES A. LEACH, Iowa, Chairman
HENRY B. GONZALEZ, Texas             BILL McCOLLUM, Florida
JOHN J. LaFALCE, New York            MARGE ROUKEMA, New Jersey
BRUCE F. VENTO, Minnesota            DOUG BEREUTER, Nebraska
CHARLES E. SCHUMER, New York         TOBY ROTH, Wisconsin
BARNEY FRANK, Massachusetts          RICHARD H. BAKER, Louisiana
PAUL E. KANJORSKI, Pennsylvania      RICK LAZIO, New York
JOSEPH P. KENNEDY II, Massachusetts  SPENCER BACHUS, Alabama
FLOYD H. FLAKE, New York             MICHAEL N. CASTLE, Delaware
KWEISI MFUME, Maryland \3\           PETER T. KING, New York
MAXINE WATERS, California            TOM CAMPBELL, California \1\
BILL ORTON, Utah                     EDWARD R. ROYCE, California
CAROLYN B. MALONEY, New York         FRANK D. LUCAS, Oklahoma
LUIS V. GUTIERREZ, Illinois          JERRY WELLER, Illinois
LUCILLE ROYBAL-ALLARD, California    J.D. HAYWORTH, Arizona
THOMAS M. BARRETT, Wisconsin         JACK METCALF, Washington
NYDIA M. VELAZQUEZ, New York         SONNY BONO, California
ALBERT RUSSELL WYNN, Maryland        ROBERT W. NEY, Ohio
CLEO FIELDS, Louisiana               ROBERT L. EHRLICH, Jr., Maryland
MELVIN L. WATT, North Carolina       BOB BARR, Georgia
MAURICE D. HINCHEY, New York         DICK CHRYSLER, Michigan
GARY L. ACKERMAN, New York           FRANK A. CREMEANS, Ohio
KEN BENTSEN, Texas                   JON D. FOX, Pennsylvania
JESSIE L. JACKSON, Jr., Illinois \2\ FREDERICK K. (FRED) HEINEMAN, 
CYNTHIA A. McKINNEY, Georgia \4\     North Carolina
BERNARD SANDERS, Vermont             STEVE STOCKMAN, Texas
                                     FRANK A. LoBIONDO, New Jersey
                                     J.C. WATTS, Jr., Oklahoma
                                     SUE W. KELLY, New York

----------
\1\ December 27, 1995, pursuant to H. Res. 324, Tom Campbell (R-CA) was 
elected to the Committee on Banking and Financial Services.
\2\ January 5, 1996, pursuant to H. Res. 337, Jesse L. Jackson, Jr. (D-
IL) was elected to the Committee on Banking and Financial Services.
\3\ February 18, 1996, Kweisi Mfume resigned as Representative to the 
U.S. Congress from Maryland's 7th Congressional District.
\4\ February 28, 1996, pursuant to H. Res. 367, Cynthia A. McKinney (D-
GA) was elected to the Committee on Banking and Financial Services.


    SUBCOMMITTEES OF THE COMMITTEE ON BANKING AND FINANCIAL SERVICES
                   Housing and Community Opportunity

  RICK LAZIO, New York, Chairman
JOSEPH P. KENNEDY II, Massachusetts  DOUG BEREUTER, Nebraska
HENRY B. GONZALEZ, Texas             RICHARD H. BAKER, Louisiana
BRUCE F. VENTO, Minnesota            MICHAEL N. CASTLE, Delaware
BERNARD SANDERS, Vermont             JERRY WELLER, Illinois
LUIS V. GUTIERREZ, Illinois          J.D. HAYWORTH, Arizona
NYDIA M. VELAZQUEZ, New York         SONNY BONO, California
BARNEY FRANK, Massachusetts          ROBERT W. NEY, Ohio
MAURICE D. HINCHEY, New York         ROBERT L. EHRLICH, Jr., Maryland
JESSE L. JACKSON, Jr., Illinois      FRANK A. CREMEANS, Ohio
CYNTHIA A. McKINNEY, Georgia         JON D. FOX, Pennsylvania
                                     FREDERICK K. (FRED) HEINEMAN, 
                                     North Carolina
                                 ------                                

               Financial Institutions and Consumer Credit

    MARGE ROUKEMA, New Jersey, 
            Chairwoman
BRUCE F. VENTO, Minnesota            BILL McCOLLUM, Florida
JOHN J. LaFALCE, New York            DOUG BEREUTER, Nebraska
CHARLES E. SCHUMER, New York         TOBY ROTH, Wisconsin
BILL ORTON, Utah                     PETER T. KING, New York
CAROLYN B. MALONEY, New York         EDWARD R. ROYCE, California
THOMAS M. BARRETT, Wisconsin         FRANK D. LUCAS, Oklahoma
ALBERT RUSSELL WYNN, Maryland        JERRY WELLER, Illinois
MELVIN L. WATT, North Carolina       JACK METCALF, Washington
LUCILLE ROYBAL-ALLARD, California    SONNY BONO, California
CLEO FIELDS, Louisiana               ROBERT W. NEY, Ohio
GARY L. ACKERMAN, New York           ROBERT L. EHRLICH, Jr., Maryland
                                     TOM CAMPBELL, California
               Domestic and International Monetary Policy

   MICHAEL N. CASTLE, Delaware, 
             Chairman
FLOYD H. FLAKE, New York             EDWARD R. ROYCE, California
BARNEY FRANK, Massachusetts          FRANK D. LUCAS, Oklahoma
JOSEPH P. KENNEDY II, Massachusetts  JACK METCALF, Washington
BERNARD SANDERS, Vermont             BOB BARR, Georgia
LUCILLE ROYBAL-ALLARD, California    DICK CHRYSLER, Michigan
THOMAS M. BARRETT, Wisconsin         FRANK A. LoBIONDO, New Jersey
CLEO FIELDS, Louisiana               J.C. WATTS, Jr., Oklahoma
MELVIN L. WATT, North Carolina       SUE W. KELLY, New York
PAUL E. KANJORSKI, Pennsylvania      ROBERT W. NEY, Ohio
NYDIA M. VELAZQUEZ, New York         JON D. FOX, Pennsylvania
                                     TOM CAMPBELL, California
                                 ------                                

   Capital Markets, Securities, and Government Sponsored Enterprises

   RICHARD H. BAKER, Louisiana, 
             Chairman
PAUL E. KANJORSKI, Pennsylvania      J.D. HAYWORTH, Arizona
KEN BENTSEN, Texas                   FRANK A. CREMEANS, Ohio
JOHN L. LaFALCE, New York            JON D. FOX, Pennsylvania
CHARLES E. SCHUMER, New York         STEVE STOCKMAN, Texas
FLOYD H. FLAKE, New York             FRANK A. LOBIONDO, New Jersey
MAXINE WATERS, California            J.C. WATTS, Jr., Oklahoma
BILL ORTON, Utah                     SUE W. KELLY, New York
CAROLYN B. MALONEY, New York         MARGE ROUKEMA, New Jersey
LUIS V. GUTIERREZ, Illinois          RICK LAZIO, New York
                                     SPENCER BACHUS, Alabama
                                 ------                                

                  General Oversight and Investigations

 SPENCER BACHUS, Alabama, Chairman
MAXINE WATERS, California            BOB BARR, Georgia
ALBERT RUSSELL WYNN, Maryland        DICK CHRYSLER, Michigan
MAURICE D. HINCHEY, New York         FREDERICK K. (FRED) HEINEMAN, 
GARY L. ACKERMAN, New York           North Carolina
                                     PETER T. KING, New York
                                     STEVE STOCKMAN, Texas
  

                          LETTER OF SUBMITTAL

                              ----------                              

                          House of Representatives,
               Committee on Banking and Financial Services,
                                   Washington, DC, January 2, 1997.
Hon. Robin H. Carle,
Clerk, House of Representatives,
Washington, DC.
    Dear Ms. Carle: The enclosed report for the 104th Congress 
entitled ``Summary of Activities of the Committee on Banking 
and Financial Services,'' is being sent to you in accordance 
with clause 1(d) of rule XI, of the Rules of the House of 
Representatives, 104th Congress. The report contains a record 
of activities through which the Committee discharged its 
responsibilities for legislative and oversight activity on 
matters within its jurisdiction. In addition, the report 
contains the Committee's oversight plan adopted by the 
Committee pursuant to clause 2(d) of rule X and a summary of 
the actions the Committee took in accomplishing the oversight 
plan.
            Sincerely,
                                            James A. Leach,
                                                          Chairman.


                            C O N T E N T S
                              ----------                              
                                                                   Page
Letter of submittal..............................................     v
Committee Rules..................................................     3
Summary of legislation reported..................................    18
    Public Law 104-12 Truth in Lending Class Action Relief Act of 
      1995.......................................................    18
    Public Law 104-29 Truth in Lending Act Amendments of 1995....    18
    Public Law 104-64 Defense Production Act Amendments of 1995..    19
    Public Law 104-74 To amend the Doug Barnard, Jr.--1996 
      Atlanta Centennial Olympic Games Commemorative Coin Act....    19
    Public Law 104-96 Smithsonian Institution Sesquicentennial 
      Commemorative Coin Act of 1995.............................    19
    Public Law 104-97 Reauthorization of the Tied Aid Credit 
      Program....................................................    20
    Public Law 104-102 Saddleback Mountain-Arizona Settlement Act 
      of 1995....................................................    20
    Public Law 104-111 Congressional Gold Medal for Ruth and 
      Billy Graham...............................................    20
    Public Law 104-114 Cuban Liberty and Democratic Solidarity 
      (LIBERTAD) Act of 1995.....................................    21
    Public Law 104-120 Housing Opportunity Program Extension Act 
      of 1996....................................................    21
    Public Law 104-131 Deposit Insurance Funds Act of 1996.......    22
    Public Law 104-172 Iran Oil Sanctions Act of 1996............    22
    Public Law 104-208 Making Omnibus Consolidated Appropriations 
      for Fiscal Year 1997.......................................    23
    Public Law 104-329 Black Revolutionary War Patriots 
      Commemorative Coin Act.....................................    25
    Public Law 104-330 Native American Housing Assistance and 
      Self-Determination Act of 1996.............................    26
Summary of legislation reported but not enacted..................    32
    H.R. 4 Personal Responsibility Act of 1995...................    32
    H.R. 117 Senior Citizens Housing Safety and Economic Relief 
      Act of 1995................................................    33
    H.R. 1062 Financial Institutions Competitiveness Act of 1995.    33
    H.R. 1574 Bank Insurance Fund and Depositor Protection Act of 
      1995.......................................................    35
    H.R. 1684 Dolley Madison Commemorative Coin Act..............    35
    H.R. 1691 Homesteading and Neighborhood Restoration Act of 
      1995.......................................................    35
    H.R. 1858 Financial Institutions Regulatory Relief Act of 
      1995.......................................................    36
    H.R. 2026 George Washington Commemorative Coin Act of 1995...    40
    H.R. 2058 China Policy Act of 1995...........................    40
    H.R. 2202 Immigration in the National Interest Act of 1995...    41
    H.R. 2406 United States Housing Act of 1995..................    41
    H.R. 2614 Commemorative Coin Authorization and Reform Act of 
      1995.......................................................    41
    H.R. 3793 50 States Commemorative Coin Program Act...........    42
    H. Res. 80 The Use of the Exchange Stabilization Fund to 
      Strengthen the Mexican Peso................................    42
Summary of legislative and oversight activities..................    44
    Full Committee...............................................    44
    Subcommittee on Housing and Community Opportunity............    52
    Subcommittee on Financial Institutions and Consumer Credit...    56
    Subcommittee on Domestic and International Monetary Policy...    59
    Subcommittee on Capital Markets, Securities and Government 
      Sponsored Enterprises......................................    63
    Subcommittee on General Oversight and Investigations.........    69
Committee Oversight Plan.........................................    72
Hearings.........................................................    97
Committee and Subcommittee Prints................................   116



_______________________________________________________________________

                                                 Union Calendar No. 479
104th Congress                                                   Report
                        HOUSE OF REPRESENTATIVES

 2d Session                                                     104-877
_______________________________________________________________________



                         SUMMARY OF ACTIVITIES

                                _______
                                

January 2, 1997.--Committed to the Committee of the Whole House on the 
              State of the Union and ordered to be printed

_______________________________________________________________________


   Mr. Leach, from the Committee on Banking and Financial Services, 
                        submitted the following

                              R E P O R T

_______________________________________________________________________



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