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United States · Bill · S

S. 1962 (97th)

A bill to amend the Credit Control Act.

openUnited States· United States Congress· EN

Introduced

15 December 1981

Last action

19 January 1982 · Committee

Status

Committee on Banking requested executive comment from Federal Reserve System; Treasury Department; Council of Economic Advisers.

Sponsors

Sen. Riegle, Donald W., Jr. [D-MI], Rep. Tsongas, Paul E. [D-MA-5], Sen. Moynihan, Daniel Patrick [D-NY], Sen. Jackson, Henry M. [D-WA]

Subjects

Discovery layer

Source updated

14 January 2025

Official sourceView documentsShare

Summary

Amends the Credit Control Act to define the term "credit sensitive sectors of the economy" for the purposes of such Act. Requires the Board of Governors of the Federal Reserve System, in administering such Act, to take into account the effects of such regulation and control on the availability of credit to the credit sensitive sectors of the economy. Directs the President, at specified times, to submit to Congress reports setting forth the following: (1) his reasons for authorizing the Board to regulate and control credit; (2) a description of the Board's action under that authority; (3) his analysis of the effectiveness of the Board's action in achieving the purposes of such Act; and (4) the effect of the Board's action on credit sensitive sectors of the economy and on productive investment in all sectors. Requires the Board, whenver it prescribes a regulation under such Act, to transmit a written report containing specified information to specified Congressional committees. Requires each such committee to promptly hold hearings with respect to such regulation and to report to its respective House.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 15 December 1981

    Introduced

    Read second time and referred to Senate Committee on Banking.

    Source: IntroReferral

  2. 15 December 1981

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 19 January 1982

    Committee

    Committee on Banking requested executive comment from Federal Reserve System; Treasury Department; Council of Economic Advisers.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Sponsors

Related records

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Sources

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