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UNITED STATES CODE CONGRESSIONAL AND ADMINISTRATIVE NEWS
100th Congress-First Session
Convened January 6, 1987
PUBLIC LAWS 100–203 to 100-242
(101 Stat. pages 1330 to 1964)
ST. PAUL, MINN.
(page 99) This legislation treats the symptoms and not the problems. Yet Congress ignores the need for comprehensive answers and further. more freezes the hodge-podge set of laws, legal decisions, regulatory actions and market innovations into place. Instead of providing reassurance to markets we provide indecision.
Congressional neglect of the financial services law leaves the result completely up to the marketplace and loophole lawyers.
So my long-term objective is a complete overhaul of the laws af. fecting the financial services industry. In the meantime let's respond to the emergency FSLIC situation.
WILLIAM L. ARMSTRONG.
HOUSE CONFERENCE REPORT NO. 100_261
JOINT EXPLANATORY STATEMENT OF THE COMMITTEE OF
CONFERENCE The managers on the part of the House and the Senate at the conference on the disagreeing votes of the two Houses on the amendments of the Senate to the bill (H.R. 27) to facilitate the provision of additional financial resources to the Federal Savings and Loan Insurance Corporation and, for purposes of strengthening the reserves of the Corporation, to establish a forbearance program for thrift institutions and to provide additional congressional oversight of the Federal Home Loan Bank Board and the Federal home loan bank system, submit the following joint statement to the House and the Senate in explanation of the effect of the action agreed upon by the managers and recommended in the accompanying co ference report:
The Senate amendment to the text of the bill struck out all of the House bill after the enacting clause and inserted a substitute texto
The House recedes from its disagreement to the amendment of the Senate with an amendment which is a substitute for the House bill and the Senate amendment. The differences between the House bill, the Senate amendment, and the substituto agreed to in confor ence are noted below, except for clerical corrections, conforming changes made necessary, by agreements reached by the conferoes, and minor drafting and clarifying changes.
TITLE I-COMPETITIVE EQUALITY AMENDMENTS Conferees' Note: Many of the provisions contained in Title I of this Act were reported out by the House Committee on Banking, Finance and Urban Affairs in the 98th and 99th Congresses. Lesues covered by the House Banking Committee which are similar to Title I include, among other things, the closing of the nonbank bank loophole, extension of certain sections of the Glass Steagall
COMPETITIVE EQUALITY BANKING ACT
P.L. 100 86
HOV'DE FINANCIAL. INC.
WASI INOTOX, D. C. 20037
January 16, 1989
Mr. Ernest Left
are most pleased to be professionally representing you on this critical acquisition. As we all know, time is of the essence and we look forward to aiding you in bringing about an early favorable resolve from the Bank Board on this acquisition.
Enclosed is your copy of our signed contract.
Highest personal regards and, again, my appreciation.
bonald I. Mae Covia