S 1667 · 95th Congress · Finance and Financial Sector

Savings and Loan Financial Centers Act

Introduced 1977-06-09· Sponsored by Sen. McIntyre, Thomas J. [D-NH]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Banking, Housing and Urban Affairs.(1977-06-09)

Plain Language Summary

[AI summary unavailable — showing source text] Savings and Loan Financial Centers Act - Title I: Payment of Interest on Deposits or Accounts - Extends for five and a half years after the enactment of this Act the authority of the Federal Home Loan Bank Board, the Federal Deposit Insurance Corporation, and the Federal Reserve Board to set interest rate limits, including the setting of a differential for certain classes of institutions. Title II: Lending and Investment Powers - Amends the Home Owners' Loan Act of 1933 to specify the types of investments that federally- chartered savings and loan associations may make. Title III: Third Party Payment Accounts - Amends the Federal Home Loan Bank Act to permit federally-chartered savings and loan associations to offer negotiable order of withdrawal (NOW) accounts.…

Summarized by Claude AI · Non-partisan · For informational purposes only