Passage of the Competitive Equality Banking The following summary and excerpts from the March 27, 1987: The Senate approved a $7.5 billion, two- April 1, 1987: The House Banking Committee approved a $5 May 5, 1987: The House approved a $5 billion, two-year May 14, 1987: The Senate voted to substitute its earlier June 22-25, 1987: House and Senate conferees met, but July 1, 1987: House and Senate conferees agreed to an $8.5 billion FSLIC recapitalization plan. CQ Weekly Reports 1450-51 (July 4, 1987). July 20-29, 1987: Faced with the threat of a presidential veto, the conference agreed to a $10.8 SPECIAL COUNSEL billion plan. CQ Weekly Reports 1729 (Aug. 1, August 3, 1987: The House adopted the conference report 382 to 12. CQ Weekly Reports 1791 (Aug. 8, 1987). August 4, 1987: The Senate adopted the conference report 96 to 2. CQ Weekly Reports 1791 (Aug. 8, 1987). August 10, 1987: President Reagan signed CEBA. ly Reports 1905 (Aug. 15, 1987). CQ Week 41. S 790. Competitive Equality Banking Act of 1987/S&L Purchases. Graham, D-Fla., amendment to the Garn, R-Utah, amendment to allow out-of-state "non-bank banks" to purchase insolvent savings and loans (S&Ls). The Graham amendment limited the authority provided by the Garn amendment to states that explicitly permit out-of-state purchases of failed S&Ls. Adopted 52-42: R 2-42; D 50-0 (ND 33-0, SD 17-0), March 27, 1987. (The Garn amendment subsequently was adopted by voice vote.) 42. S 790. Competitive Equality Banking Act of 1987/Highway Bill Veto. Byrd, D-W.Va., motion to table (kill) the Dole, R-Kan., amendment to express the sense of the Senate that, if President Reagan's veto of the highway bill (HR 2) was sustained, a new highway bill would be reported by the appropriate committees within seven calendar days. Motion agreed to 4945: R 1-43; D 48-2 (ND 32-1, SD 16-1), March 27, 1987. 43. S 790. Competitive Equality Banking Act of 1987/Non-Bank Banks. Garn, R-Utah, amendment to strike Titles I and II from the banking bill to eliminate provisions that would ban new "non-bank banks" after March 5, 1987, and to impose a one-year moratorium on the ability of banks to sell securities, real estate and insurance. Rejected 35-54: R 32-10; D 344 (ND 0-32, SD 3-12), March 27, 1987. 44. S 790. Competitive Equality Banking Act of 1987/Final Passage. Passage of the bill to regulate "non-bank banks," impose a moratorium on certain securities and insurance activities by banks, recapitalize the Federal Savings and Loan Insurance Corporation, allow emergency interstate bank acqui Stafford VIRGINIA Trible Warner WASHINGTON Rockefeller WISCONSIN Proxmire Kasten WYOMING Simpson Wallop NNYN? YNN NNYNYNYN YYNYYNYN N N N Y Y N N N NNYY YNN NN? ? ? YNY NNYNYYNY sitions, streamline credit union operations and regulate consumer check-holds. Passed 79-11: R 31-11; D 48-0 (ND 32-0, SD 16-0), March 27, 1987. A "nay" was a vote supporting the president's position. 45. S 825. Housing Development Act/Committee Amendment. Riegle, D-Mich., amendment on behalf of the Banking, Housing and Urban Affairs Committee to make various technical and other changes in the omnibus bill to reauthorize federal housing programs for fiscal years 1987-88. Adopted 75-0: R 36-0; D 39-0 (ND 25-0, SD 14-0), March 30, 1987. 46. S 825. Housing Development Act/Nehemiah Grants. Nickles, R-Okla., amendment to the fiscal years 1987-88 omnibus housing authorization bill to strike Nehemiah Housing Opportunity Grants to build low-income housing in distressed urban areas. Rejected 44-54: R 35-10; D 9-44 (ND 5-30, SD 4-14), March 31, 1987. 47. S 825. Housing Development Act/Elderly Contribution. Reid, D-Nev., amendment to the fiscal years 1987-88 omnibus housing authorization bill to reduce the annual contribution required of elderly tenants under the HUD Section 8 rental subsidy program from 30 percent to 25 percent of their income. Rejected 43-55: R 8-37; D 35-18 (ND 25-10, SD 10-8), March 31, 1987. 48. S 825. Housing Development Act/UDAG. Humphrey, R-N.H., amendment to the fiscal years 1987-88 omnibus housing authorization bill to terminate the Urban Development Action Grant program. Rejected 23-75: R 21-24; D 2-51 (ND 2-33, SD 018), March 31, 1987. |