[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
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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
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\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
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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
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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
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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
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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
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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
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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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