CommunityDevelopmentBanking-L is an active, free, ongoing e-mail discussion
resource. Since 1994, this list has served community development practitioners
including Credit Unions, Banks, CDCs, Loan Funds, trade associations,
regulators, governments and partner non-profits. The discussions have ranged
from the practical (construction, mortgage, and small business lending; job
opportunities, conferences, fundraising) to legislative (CRA, HMDA, and CDFI) to
the cutting edge (micro-loan funds, peer lending, local currency, targeting
"The best Community Development Banking resource in Cyberspace."
CRA rollback--Sen. Gramm Lobbies House Repubs
>Date: Tue, 1 Jun 1999 23:01:47 EDT
>Subject: AB: Gramm Lobbies House Repubs to Roll Back CRA
>Note: fair use, educational, non-profit, to spur discussion
>Wednesday, June 2, 1999
>The Lobbyists: Leach, Gramm Talk Up Dueling Reform Bills
>By Dean Anason
>The House and Senate Banking Committee chairmen have been lobbying the
>lobbyists on financial reform. While a House Commerce subcommittee was voting
>on the legislation last week, Rep. Jim Leach and Sen. Phil Gramm met with the
>Financial Services Council.
>Sen. Gramm crowed that he got exactly the bill he wanted through the Senate
>last month -- tougher on powers for bank subsidiaries than the House version
>but weaker on community reinvestment requirements. He claimed this version
>gives him optimal negotiating leverage in a conference committee.
>But Rep. Leach bragged as well, noting House Banking's overwhelming 51-to-8
>vote on the bill in March. (The Senate bill, by contrast, passed 54-to-44 on
>a largely party-line vote.)
>Sen. Gramm also made his case to 10 Republican members of House Banking last
>week, stumping for his bill's small-bank exemption and other rollbacks of the
>Community Reinvestment Act. The Texas Republican's 45-minute presentation,
>combining folksy humor and detailed charts, reportedly made an impression.
>"There was a general feeling we ought to take a second look" at Sen. Gramm's
>CRA-related proposals, an aide to Rep. Richard H. Baker said.
>But Rep. Leach cautioned those fellow members to take President Clinton's
>veto threat seriously. "He reiterated the need to get a bill that was
>acceptable to the administration," Rep. Leach's spokesman said.
>If the House does pass financial reform legislation, expect a fight in the
>Senate over who gets appointed to the conference committee.
>Sens. Robert Bennett and Rod Grams, who head key Senate Banking
>subcommittees, are likely candidates.
>But they voted against Sen. Gramm on the pivotal amendment setting powers for
>direct bank subsidiaries, as did Sen. Richard C. Shelby.
>After the Senate adopted the bill May 6, Sen. Gramm reportedly tried to slip
>through a motion putting three Republican committee allies on the conference
>panel: Sens. Wayne Allard, Connie Mack, and Michael B. Enzi. It failed when
FAIR USE: This re-post of copyrighted
material is for limited personal or
educational purposes. The original
copyright citation, if any, is included.
.·´¯`·.¸ ><((((º> .·´¯`·.¸¸.·´¯`·.¸ <º))))>< .·´¯`·.¸.·´¯`·.¸
.·´¯`·..·´¯`·.¸ ><((((º> .·´¯`·.¸¸.·´¯`·.¸ ·.¸.·´¯`·.¸ ><((((º>
.·´¯`·.¸ <º))))>< ¸.·´¯`·.¸.·´¯`·.¸.·´¯`·.¸ ><((((º> ¸.·´¯`·..·´¯`·.
This post transferred from the cdb-l mailing list