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.
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COPYRIGHT 2000 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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