A Call for a Rollback of High Interest Rates: Hearing, Ninety-first Congress, Second Session, on House Concurrent Resolutions 522 and 523 and Related Resolutions ... March 24, 1970
U.S. Government Printing Office, 1970 - 59 pages
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action administration ALEXANDER amended American amount authority average bankers banks become bills borrow building businessmen cause cent Chairman PATMAN committee CONGRES CONGRESS THE LIBRARY construction consumer continue controls corporations cost debt demand deposits economic effect efforts fact Federal Reserve Board feel fight financing follows forced funds GIBBONS going Government hear high interest rates higher hope housing income increase industry inflation interest cost issue LIBRARY OF CONGRESS loan lower major means million months mortgage paid pass past percent period person present President prime interest rate problem production profits provisions question raise reason recession record reduce regulation REPRESENTATIVE IN CONGRESS resolution result rising small business statement System term Thank thing tight tion Treasury unemployment United week Wright
Page 29 - Whenever it shall appear to the Commission that any person is engaged or about to engage in any acts or practices which constitute or will constitute a violation of the provisions...
Page 29 - USC 461, 462, and 462b) and inserting: "(a) The Board is authorized for the purposes of this section to define the terms used in this section, to determine what shall be deemed a payment of interest, and to prescribe such regulations as it may deem necessary to effectuate the purposes of this section and to prevent evasions thereof.
Page 32 - States courts of any Territory or other place subject to the jurisdiction of the United States, to enjoin such acts or practices...
Page 32 - States ; and he may require any su.ch person engaged in any such transaction to furnish, under oath, complete information relative thereto, including the production of any books of account, contracts, letters or other papers, in connection therewith in the custody or control of such person, either before or after such transaction is completed.
Page 32 - Whenever it appears to any person authorized by the President to exercise authority under this title that any individual or organization has engaged, is engaged, or is about to engage in any acts or practices...
Page 28 - Board may from time to time, after consulting with the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation, prescribe rules governing the payment and advertisement of interest or dividends on deposits, shares, or withdrawable accounts, including limitations on...
Page 29 - Each purchase of obligations by the Secretary of the Treasury under this subsection shall be upon such terms and conditions as to yield a return at a rate not less than a rate determined by the Secretary of the Treasury, taking into consideration the current average yield on outstanding marketable obligations of the United States of comparable maturities.
Page 31 - credit sale" refers to any sale with respect to which credit is extended or arranged by the seller. The term includes any contract in the form of a bailment or lease if the bailee or lessee contracts to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the property and services involved and it is agreed that the bailee or lessee will become, or for no other or...
Page 31 - Whenever the President determines that such action is necessary or appropriate for the purpose of preventing or controlling inflation generated by the extension of credit in an excessive volume, the President may authorize the Board to regulate and control any or all extensions of credit.