House Passes Compromise on Bank Legislation Package
Heller, Michele, American Banker
The House on Tuesday easily approved a revised package of banking and housing measures that is expected to garner more Senate support than the previous version.
The bipartisan legislation, which closely resembles a version the House passed in October, was redrafted without several controversial items that had stalled it in the Senate. One of the removed provisions would have established low-cost FHA mortgages for municipal employees. Senate Banking Committee Chairman Phil Gramm had objected to these loans as government favoritism.
After the House passed the latest bill by voice vote, a spokeswoman for Sen. Gramm said the legislation is "a good package and we hope to …
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Publication information: Article title: House Passes Compromise on Bank Legislation Package. Contributors: Heller, Michele - Author. Magazine title: American Banker. Volume: 165. Issue: 233 Publication date: December 6, 2000. Page number: 4. © 2009 SourceMedia, Inc. COPYRIGHT 2000 Gale Group.
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