National Consumer Cooperative Bank Act

Summary

National Consumer Cooperative Bank Act - Title I: National Consumer Cooperative Bank - Establishes the National Consumer Cooperative Bank to: (1) encourage the development of cooperatives eligible for its assistance by providing specialized credit and technical assistance; (2) maintain broad-based control of the Bank by its voting stockholders; (3) encourage broad-based ownership control and active participation by members in eligible cooperatives; (4) assure that the net savings from operations and the operations of borrowers from the Bank are made available or accounted for to the stockholders or members; and (5) assist in improving the quality and availability of goods and services to consumers. Authorizes the creation of no less than four nor more than twelve corporate regional banks. States that the Bank shall have the power to make and service loans, commitments for credit, guarantees, furnish financially related services, technical assistance, and issue obligations. Enumerates additional powers necessary to carry out its powers and duties. Requires the Bank to hold an annual meeting of stockholders. Permits the Bank to obtain funds through the public or private sale of its bonds, debentures, notes, and other evidences of indebtedness. Authorizes the Bank to make loans to eligible organizations which shall be repayable in not more than 40 years. States that the objective of the Bank shall be to provide the type of credit needed by eligible borrowers, at the lowest reasonable cost on a sound business basis, taking into account the cost of money to the Bank. Defines "eligible cooperatives" for purposes of assistance under this title. Title II: Self-Help Development Fund - Establishes in the Treasury a Consumer Cooperative Self-Help Development Fund. Permits the Cooperative Bank and Assistance Administration to make a capital investment advance out of the Fund to any eligible cooperative if the Administration determines that the applicant's initial or supplemental capital requirements exceed its ability to obtain a Title I loan from the Bank or other sources, and the membership of the applicant consists substantially of low-income persons. Title III: Cooperative Technical Assistance - Directs the Cooperative Bank and Assistance Administration to make available information and services concerning the organization or reorganization of cooperatives to best achieve the objectives of this Act and to best provide the means through which various types of goods, services, and facilities can be made available to members and patrons. States that such assistance may include investigations, surveys, and director and management training and assistance. Title IV: The Cooperative Bank and Assistance Administration and General Provisions - Establishes the Cooperative Bank and Assistance Administration. Directs the Administration to assure that the objectives of this Act are carried out. States that until the stock of the Bank held by the United States has been fully retired the Bank shall be exempt from any form of taxation. Requires the Administration and the Board to report annually to the appropriate committees of Congress on the activities of the Administration and on the Bank's capital, operations, financial condition, the self-help development fund, and to make recommendations for legislation to improve its services.

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

Timeline

1. 1 February 1977

   Introduced

   Introduced in House

   Source: IntroReferral

2. 1 February 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 1 February 1977

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

4. 13 May 1977

   Reported

   Reported to House from the Committee on Banking, Finance and Urban Affairs with amendment, H. Rept. 95-311.

   Source: Committee

5. 13 May 1977

   Reported

   Reported to House from the Committee on Banking, Finance and Urban Affairs with amendment, H. Rept. 95-311.

   Source: Committee

6. 13 July 1977

   Floor

   Measure called up by special rule in House.

   Source: Floor

7. 14 July 1977

   Vote

   Measure passed House, amended, roll call #416 (199-198).

   Source: Floor

8. 14 July 1977

   Vote

   Passed/agreed to in House: Measure passed House, amended, roll call #416 (199-198).

   Source: Floor

9. 14 July 1977

   Floor

   Measure considered in House.

   Source: Floor

10. 18 July 1977

    Introduced

    Referred to Senate Committee on Banking, Housing and Urban Affairs.

    Source: IntroReferral

11. 10 May 1978

    Reported

    Reported to Senate from the Committee on Banking, Housing and Urban Affairs with amendment, S. Rept. 95-795.

    Source: Committee

12. 10 May 1978

    Reported

    Reported to Senate from the Committee on Banking, Housing and Urban Affairs with amendment, S. Rept. 95-795.

    Source: Committee

13. 13 July 1978

    Floor

    Measure called up by unanimous consent in Senate.

    Source: Floor

14. 13 July 1978

    Vote

    Passed/agreed to in Senate: Measure passed Senate, amended, roll call #216 (60-33).

    Source: Floor

15. 25 July 1978

    ResolvingDifferences

    Conference scheduled in House.

    Source: ResolvingDifferences

16. 26 July 1978

    ResolvingDifferences

    Conference scheduled in Senate.

    Source: ResolvingDifferences

17. 27 July 1978

    Passed

    Senate agreed to conference report.

    Source: ResolvingDifferences

18. 27 July 1978

    Passed

    Conference report agreed to in Senate: Senate agreed to conference report.

    Source: ResolvingDifferences

19. 28 July 1978

    ResolvingDifferences

    Conference report filed in House, H. Rept. 95-1399.

    Source: ResolvingDifferences

20. 28 July 1978

    ResolvingDifferences

    Conference report filed: Conference report filed in House, H. Rept. 95-1399.

    Source: ResolvingDifferences

21. 9 August 1978

    President

    Measure enrolled in House.

    Source: President

22. 9 August 1978

    Vote

    House agreed to conference report, roll call #666 (236-164).

    Source: ResolvingDifferences

23. 9 August 1978

    Vote

    Conference report agreed to in House: House agreed to conference report, roll call #666 (236-164).

    Source: ResolvingDifferences

24. 10 August 1978

    Floor

    Measure presented to President.

    Source: Floor

25. 10 August 1978

    President

    Measure presented to President.

    Source: President

26. 10 August 1978

    President

    Measure enrolled in Senate.

    Source: President

27. 20 August 1978

    President

    Public Law 95-351.

    Source: President

28. 20 August 1978

    Became law

    Signed by President.

    Source: BecameLaw

29. 20 August 1978

    President

    Signed by President.

    Source: President

Votes

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 21 August 1978

  ViewDownloadOpen at official source

• Conference report filed in House

  summary · EN · 28 July 1978

  Open at official source

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• Introduced in House

  summary · EN · 1 February 1977

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

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Sponsors

• Rep. St Germain, Fernand J. [D-RI-1] · D · Sponsor
• Rep. Reuss, Henry S. [D-WI-5] · D · Cosponsor
• Rep. Wylie, Chalmers P. [R-OH-15] · R · Cosponsor
• · ssbk00 · Standing
• · hsba00 · Standing

Related records

• related to → A resolution providing for the consideration of H. R. 2777, a bill to provide for consumers a further means of minimizing the impact of inflation and economic depression by narrowing the price spread between costs to the producer and the consumer of needed goods, services, facilities, and commodities through the development and funding of specialized credit sources for, and technical assistance to, self-help, not-for-profit cooperatives.
• related to → A resolution providing for the consideration of the bill H.R. 2777 to provide for consumers a further means of minimizing the impact of inflation and economic depression by narrowing the price spread between costs to the producer and the consumer of needed goods, services, facilities, and commodities through the development and funding of specialized credit sources for, and technical assistance to, self-help, not-for-profit cooperatives, and for other purposes.
• related to ← National Consumer Cooperative Bank Act
• related to ← National Consumer Cooperative Bank Act
• related to ← National Consumer Cooperative Bank Act
• related to ← National Consumer Cooperative Bank Act
• related to ← National Consumer Cooperative Bank Act
• related to ← National Consumer Cooperative Bank Act
• related to ← National Consumer Cooperative Bank Act

Related across the Repo ecosystem

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