Deposit Disclosure and Mortgage Placement Reporting Act

Summary

Deposit Disclosure and Mortgage Placement Reporting Act - Requires federally insured banks and savings and loan associations to keep and publicly disclose the following information: (1) the number and total dollar amount of mortgage loans made by that institution which were outstanding as of the close of business of December 31 of the previous year showing the distribution of loans by residences designed primarily for occupancy by one to four families, condominiums and cooperatives, and other multifamily dwelling units where applicable; (2) the number and total dollar amount of new mortgage loans made by that institution during the same pervious year in comparable categories as required above; and (3) the average daily dollar amount of savings accounts, held by that institution during such year and the total amount held as of December 31 of the same year. Directs the Board of Governors of the Federal Reserve System to prescribe such regulations as may be necessary to carry out the purposes of this Act.

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1 official file

• Introduced in House

  summary · EN · 21 May 1975

  Open at official source

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