HR 4728 · 97th Congress · Housing and Community Development

A bill to amend the Federal Reserve Act to provide that the enforceability of due-on-sale clauses contained in fixed-rate real estate loans made by national banking associations shall be determined under State Law.

Introduced 1981-10-07· Sponsored by Rep. Weber, Vin [R-MN-6]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1981-11-05)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Federal Reserve Act to declare that the enforceability in any State of any due-on-sale clause contained in any fixed-rate real estate loan made or purchased by any national banking association shall be determined under the law of such State.…

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

Cosponsors (20)

9 Democrats11 Republicans
Rep. Roberts, Clint [R-SD-2]SD
Rep. Daschle, Thomas A. [D-SD-1]SD
Rep. Duncan, John J. [R-TN-2]TN
Rep. Stangeland, Arlan [R-MN-7]MN
Rep. Walgren, Doug [D-PA-18]PA
Rep. Smith, Joseph F. [D-PA-3]PA
Rep. Siljander, Mark D. [R-MI-4]MI
Rep. McHugh, Matthew F. [D-NY-27]NY
Rep. Lee, Gary A. [R-NY-33]NY
Rep. Forsythe, Edwin B. [R-NJ-6]NJ
Rep. Winn, Larry, Jr. [R-KS-3]KS
Rep. Dwyer, Bernard J. [D-NJ-15]NJ
Rep. Mottl, Ronald M. [D-OH-23]OH
Rep. Dyson, Roy [D-MD-1]MD
Rep. Chappell, Bill, Jr. [D-FL-4]FL
Rep. Gunderson, Steve [R-WI-3]WI
Rep. Gejdenson, Sam [D-CT-2]CT
Rep. Erdahl, Arlen [R-MN-1]MN
Rep. McDade, Joseph M. [R-PA-10]PA
Rep. Trible, Paul S., Jr. [R-VA-1]VA