The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F e d e r a l R e s e r v e Ba n k OF DALLAS Dallas, Texas, June 25, 1946 AMENDMENT TO REGULATION W— CONSUMER CREDIT To the Registrant Addressed: The Board of Governors of the Federal Reserve System has adopted Amendment No. 20 to Regulation W, effective July 5,1946. The text of the amendment is printed on the reverse side of this letter. Yours very truly, R. R. GILBERT President (.O r) ve This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) CONSUMER CREDIT AMENDMENT NO. 20 TO REGULATION W ISSUED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Regulation W is hereby amended in the following respects, effective July 5, 1946: 1. Section 2 (e ) is amended by inserting the words “ in a principal amount of $1,500 or less” after the word “ credit.” 2. Section 8 (a ) is amended by inserting at the end thereof after the word “ structures” a comma and the follow in g: “ Provided such repairs, alterations, or improvements do not incorporate any listed article.” 3. Section 8 (c ) is amended by revising clause (1 ) thereof to read as follow s: (1 ) That the proceeds are to be used for bona fide educational, medical, hospital, dental, or funeral expenses, or to pay debts incurred for such expenses, and that such proceeds (unless they are to be used exclusively for educational expenses) are to be paid over in amounts specified in such statement to persons whose names, addresses, and occupations are stated therein; 4. Section 13(a) is amended by striking out the names o f the articles listed as items 4, 5, and 6 o f Group A and inserting in lieu thereof the word “ (D eleted),” and also by adding at the end o f Group A a new item 42 reading as follow s: 42. Combination units incorporating any listed article in classifica tions 12, 13, 18, 30, or 36 o f this Group A .
@FedFRASER