legislation: 97-hr-6124

Congressional bills and resolutions from Congress.gov, filtered to policy areas relevant to environmental, health, agriculture, and wildlife regulation.

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
97-hr-6124 97 hr 6124 A bill to reduce interest rates, control inflation, ensure the availability of credit for productive purposes, and promote economic recovery by extending the Credit Control Act. Finance and Financial Sector 1982-04-20 1982-08-19 Placed on Union Calendar No: 471. House Rep. St Germain, Fernand J. [D-RI-1] RI D S000762 53 (Reported to House from the Committee on Banking, FInance and Urban Affairs with amendment, H. Rept. 97-774) Amends the Credit Control Act to repeal the provision of such Act which would terminate credit control authority on June 30, 1982. Permits the President to authorize the Board of Governors of the Federal Reserve System to regulate and control any or all extensions of credit whenever necessary or appropriate to reduce high levels of unemployment in any sector of the economy, or to prevent or control inflation or recession. Permits the Board, after receiving such Presidential authorization, to prescribe limitations with respect to credit for nonproductive purposes. Authorizes the Board to require any commercial bank which plans to assist in the financing of any part of a corporate acquisition or merger involving more than $100,000,000 in financing to notify the Board of such proposed financing before extending a line of credit. Permits the Board to disapprove any proposed financing if it is determined that the corporate acquisition or merger involved cannot reasonably be expected to produce specified benefits to the public which outweigh possible adverse effects. 2024-02-06T19:38:08Z  

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