SIMPLIFY AND REFORM THE TRUTH IN LENDING ACT HEARINGS BEFORE THE SUBCOMMITTEE ON CONSUMER AFFAIRS OF THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS NINETY-FIFTH CONGRESS FIRST SESSION ON S. 1312 TO AMEND THE TRUTH IN LENDING ACT TO FACILITATE TO AMEND THE TRUTH IN LENDING ACT S. 1653 TO AMEND THE TRUTH IN LENDING ACT TO FACILITATE ENFORCEMENT, AND FOR OTHER Philip C. Jackson, Member, Board of Governors, Federal Reserve System__ Jonathan Landers, professor, University of Illinois School of Law. Ralph Rohner, professor, Catholic University, Columbus School of Law.. Steven Permut, professor, Yale University School of Organization and Lawrence Connell, Jr., bank commissioner, State of Connecticut --- John E. Quinn, superintendent, Maine Consumer Credit Administration__ Reuben Johnson, director of legislative services, National Farmers Union. Glenn E. Heitz, president, Federal Land Bank of St. Louis, on behalf of Gerald J. Levy, Milwaukee, Wis., on behalf of the U.S. League of Savings Associations, accompanied by Joseph Salm, Technical Services Division Walter W. Vaughan, Rochester, N. Y., on behalf of the American Banker's Association, accompanied by William J. O'Connor, Jr.-- Robert B. Evans, general counsel, National Consumer Finance Association_ R. C. Morgan, El Paso, Tex., on behalf of the Credit Union National William A. James, Springfield, Mass., on behalf of the National Associa- tion of Mutual Savings Banks, accompanied by Louis H. Nevins, vice president and director, Washington office.. John S. Cushman, Minneapolis, Minn., on behalf of the National Retail Merchants Association, accompanied by Sheldon Feldman, counsel.__ LIST OF WITNESSES-Continued WEDNESDAY, JULY 13-Continued William I. Levenson, Baltimore, Md., on behalf of the National Home Furnishings Association, accompanied by Spencer A. Johnson, vice Page president for Government relations. Dan J. Griffin, Finance Business Forms, Chicago, Ill. Frank H. Maier, Atlanta, Ga., on behalf of the Retail Jewelers of America, H. R. Lively, director of public affairs, general credit office, Sears, Roe- ADDITIONAL STATEMENTS AND DATA Agricultural loan transactions, reprints of letters requesting exemption Agristor Credit Corporation, statement and attached decision from the Consumer Federation of America, letter detailing position on truth in lend- 769 795 802 810 452 847 854 400 615 278 Consumer Reports, reprint of article titled, "How to Save on an Auto 517 Darr, R. A., Columbia, S.C., statement in support of removing agriculture from truth in lending. 488 Farm and Industrial Equipment Institute, statement on exemption of agricultural purpose transactions.. 856 Farm Credit Board of Baltimore, letter from William S. Jackson, director.. Federal Home Loan Bank Board, letter to Carol S. Greenwald, Massachusetts Commissioner of Banks... 479 374 Federal Land Bank of St. Louis, subsequent letter for the record from 477 Federal Reserve Board: Letter to Comptroller of the Currency regarding the requests of the Sectional analysis of S. 1312, S. 1501, and S. 1653___ 104 Federal Trade Commission, copy of loan company supervisor's instructions First National City Bank, samples of old and new consumer loan notes.. secretary-treasurer.. Joint statement dealing with the exemption of agricultural credit from: American Feed Manufacturers Association_ 139 938 858 876 Monsanto Co... National Association of Credit Management. National Farm and Power Equipment Dealers Association_ Sperry Rand Corp.. Maine Department of Business Regulation, Bureau of Consumer Protection, advisory opinion on incorrect annual percentage rate disclosures_ Mortgage Bankers Association of America, letter from Oliver H. Jones, executive vice president_. National Association of Realtors, statement received for the record_--National Automobile Dealers Association, statement received for the record... National Bank of Washington, simplified consumer loan note__ 899 899 899 899 899 899 415 881 884 904 940 ADDITIONAL STATEMENTS AND DATA-Continued 333 National Consumer Law Center, reprint of submitted article titled "Shop- Page ping for Credit in New Orleans: An Exercise in Futility". National Home Furnishings Association, reprints of sample old and new credit forms___ 785 National NOW Action Center, letter from Linda M. Cohen, credit task force coordinator_. 916 National Retail Merchants Association: Notice of change of terms provisions under Federal and State law.. Proposed amendment of section 130 of the Truth in Lending Act with respect to civil liability____ 758 755 New Jersey Department of Banking, letter from Commissioner Virginia 918 Production Credit Association of Dodgeville, Wis., letter from Byron Berg, farmer-director.. 485 Reprints of newspaper real estate advertising showing promotion of rates other than annual percentage rate... 150 United Student Aid Funds, Inc., statement on regulation Z... 923 927 CHARTS AND TABLES Comparison of Connecticut, Massachusetts, Maine, and FDIC truth-inlending compliance findings. 922 Comparison of FDIC compliance findings for exempt and nonexempt 922 Consumer installment credit outstanding, by holder, yearend, 1970–76. 596 36 Examples from Down Easters' Credit Guide, published by Bureau of Con sumer Protection, Augusta, Maine.. 516 Index of consumer installment loans. 296 Installment credit disclosure statement. 31 Security agreement (conditional sales agreement). 29 517 |