Banking Reform Act of 1971: Hearings before the Committee on Banking and Currency, House of Representatives, on H.R. 5700, H.R. 3287, and H.R. 7440
Hearings before the Committee on Banking and Currency, House of Representatives, ninety-second Congress, first session, on:
H.R. 5700 (the Banking Reform Act of 1971): a bill to prohibit certain conflicts of interest and encourage competition in the banking industry and related fields to provide for restrictions and disclosures with respect to certain loans, to prohibit brokered deposits in banks and other financial institutions, to prohibit the use of giveaways in the solicitation of deposits, to permit full deposit insurance for government depositors, and for other purposes.
H.R. 3287: a bill to prohibit federally insured banks from making loans to provide for the purchase of bank stock, and for other purposes.
and H.R. 7440: a bill to clarify the authority of the Federal Home Loan Bank Board to regulate conflicts of interest in the operation of insured savings and loan associations, and for other purposes.
The Banking Reform Act of 1971 sought to enhance competition among financial institutions, reduce concentrations of economic power within the financial community, and eliminate certain serious conflict-of-interest situations occurring as a result of existing practices carried on by financial institutions.
These hearings took place from April 20 - May 4, 1971. Included are statements from such individuals as Arthur Burns, Chairman of the Board of Governors of the Federal Reserve System; William Camp, Comptroller of the Currency; Preston Martin, Chairman of the Federal Home Loan Bank Board; Richard Smith, Commissioner of the Securities and Exchange Commission; and Frank Wille, Chairman of the Federal Deposit Insurance Corporation.
1971 to 1971
United States. Congress. House. Committee on Banking and Currency, ([year]), Banking Reform Act of 1971: Hearings before the Committee on Banking and Currency, House of Representatives, on H.R. 5700, H.R. 3287, and H.R. 7440, [issue title/date], accessed Jul 31, 2014 from FRASER, http://fraser.stlouisfed.org/publication/?pid=227