Consumer Bank Act of 1985

[AI summary unavailable — showing source text] Consumer Bank Act of 1985 - Title I: Regulation of Consumer Banks - Amends the Bank Holding Company Act of 1956 to exclude as a "bank" subject to the restrictions of such Act any consumer bank or any industrial bank, Morris Plan bank, industrial loan company or similar institution which operates as authorized by State law and which does not both make commercial loans and accept demand deposits. Lists the requirements of a "consumer bank" which include: (1) a prohibition against making commercial loans; (2) a requirement to maintain investments in specified types of consumer loans; and (3) a requirement to make available in a State an aggregate amount of loans equal to 65 percent of the consumer deposits held by such institution which were received in such State. Defines a "commercial loan" as any loan or extension of credit for commercial, agricultural, or cultural purposes. Applies tying arrangement provisions of such Act to consumer banks and consumer bank holding companies. Applies the Community Reinvestment Act to consumer banks. Permits a consumer bank and its subsidiaries to enter into a transaction with an affiliate only if the terms and conditions are substantially the same…