Interest on Installment Loans: Hearing, Ninety-first Congress, First Session, on H.R. 255 to Authorize Banks, Savings and Loan Associations, and Other Regulated Lenders in the District of Columbia to Charge Or Deduct Interest in Advance on Loans to be Repaid in Installments. April 29, 1969U.S. Government Printing Office, 1969 - 65 pages |
Common terms and phrases
82 STAT 90th Congress add-on advertisement agencies amended amount annual percentage rate applicable authorized bill Board borrower BOWERSOCK Chairman chapter Columbia Code Commission Committee Comptroller conference substitute CONGRESS THE LIBRARY Consumer Credit Protection contract Corporation Court credit is extended creditor Currency D.C. Code debtor disclosed disclosures required discount District of Columbia DON FUQUA effect enacted end credit plans enforce exceed exempt extension of credit extortionate extensions extortionate means finance charge FUQUA garnishment GUDE GUNTHER House installment loans interest in advance interest rate legislation Lending Act LIBRARY OF CONGRES LIBRARY OF CONGRESS loan associations Loan Shark maximum legal rate ment MOYER National Bank obligor open end credit payment percent per annum person President provisions purchase rate of interest revolving credit Robert Bloom savings and loan Senate statement thereof Truth in Lending Union Trust Company United States Code unlawful interest usury law usury statute violation
Popular passages
Page 63 - Changes in Existing Law Made bt the Bill, As Reported In compliance with clause 3 of Rule XIII of the Rules of the House of Representatives, changes in existing law made by the bill, as reported, are shown as follows (existing law proposed to be omitted is enclosed in black brackets, new matter is printed in italic, existing law in which no change is proposed is shown in roman) : TITLE 38, UNITED STATES CODE PART I. GENERAL PROVISIONS CHAPTER 1— GENERAL 101. Definitions For the purposes of this...
Page 29 - An act to regulate the business of loaning money on security of any kind by persons, firms, and corporations other than national banks, licensed bankers, trust companies, savings banks, building and loan associations, and real estate brokers in the District of Columbia,
Page 41 - ... (7) An extortionate means is any means which involves the use, or an express or implicit threat of use, of violence or other criminal means to cause harm to the person, reputation, or property of any person. (8) The term "State" includes the District of Columbia, the Commonwealth of Puerto Rico, and territories and possessions of the United States.
Page 31 - Loan Act of 1933, section 407 of the National Housing Act, and sections 6(i) and 17 of the Federal Home Loan Bank Act, by the Federal Home Loan Bank Board (acting directly or through the Federal Savings and Loan Insurance Corporation), in the case of any institution subject to any of those provisions...
Page 31 - All of the functions and powers of the Federal Trade Commission under the Federal Trade Commission Act are available to the Commission to enforce compliance by any person with the requirements imposed under this title, irrespective of whether that person is engaged in commerce or meets any other jurisdictional tests in the Federal Trade Commission Act.
Page 37 - ... has approved in writing both the annual percentage rate or rates and the method of computing the finance charge or charges, and...
Page 28 - The disclosure of an amount or percentage which is greater than the amount or percentage required to be disclosed under this title does not. in itself constitute a violation of this title.
Page 31 - Act, in the case of (A) national banks, by the Comptroller of the Currency. (B) member banks of the Federal Reserve System (other than national banks), by the Board. (C) banks insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), by the Board of Directors of the Federal Deposit Insurance Corporation. (2) section 5(d) of the Home Owners...
Page 28 - These regulations may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of transactions, as in the judgment of the Board are necessary or proper to effectuate the purposes of this title, to prevent circumvention or evasion thereof, or to facilitate compliance therewith.
Page 31 - For the purpose of the exercise by the Federal Trade Commission of its functions and powers under the Federal Trade Commission Act, a violation of any requirement imposed under this title shall be deemed a violation of a requirement imposed under that Act.