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HOME MORTGAGE DISCLOSURE AND EQUAL

CREDIT OPPORTUNITY

HEARINGS

BEFORE THE

COMMITTEE ON
BANKING, HOUSING AND URBAN AFFAIRS

UNITED STATES SENATE

NINETY-FOURTH CONGRESS

SECOND SESSION

ON

OVERSIGHT ON THE HOME MORTGAGE DISCLOSURE ACT

AND THE EQUAL CREDIT OPPORTUNITY ACT

NOVEMBER 23, 1976

Printed for the use of the Committee on Banking,

Housing and Urban Affairs

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON : 1977

80-991 0

For sale by the Superintendent of Documents, U.S. Government Printing Office

Washington, D.C., 20402 - Price $5.10

Stock Number 052-070-03921-3

COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS

WILLIAM PROXMIRE, Wisconsin, Chairman JOHN SPARKMAN, Alabama

JOHN TOWER, Texas HARRISON A. WILLIAMS, JR., New Jersey EDWARD W. BROOKE, Massachusetts THOMAS J. MCINTYRE, New Hampshire BOB PACKWOOD, Oregon ALAN CRANSTON, California

JESSE HELMS, North Carolina
ADLAI E. STEVENSON, Illinois

JAKE GARN, Utah
JOSEPH R. BIDEN, JR., Delaware
ROBERT MORGAN, North Carolina

KENNETH A. MCLEAN, Staf Director
ANTHONY T. CLUFF, Minority Staff Director
ROBERT L. KUTTNER, Professional Staff Member

CONTENTS

LIST OF WITNESSES

Page

557

551

553

ADDITIONAL STATEMENTS AND DATA

Bradford, Calvin, associate director, Center for Urban Studies, University

of Illinois at Chicago Circle Campus, reprint of statement prepared for

a meeting of the Office of Fair Housing and Equal Opportunity, Depart-

ment of Housing and Urban Development.-

Brimmer, Andrew F., president, Brimmer & Co., Inc., statement before the

U.S. League of Savings Associations, Nov. 17, 1976_

City of Chicago, disclosure ordinance.

Commonwealth of Massachusetts, Office of Commissioner of Banks:

Deposit distribution information form-----

Disclosure directive---

Letters to executives of Massachusetts financial institutions from

Carol S. Greenwald, Commissioner of Banks_-

Letter to Senator Proxmire from Harriett Tee Taggart, director of

research

Progress report titled "The Massachusetts Experience and Future Role

of Public Regulatory Agencies".
Department of Housing and Urban Development:

Letter from Secretary Carla A. Hills to Senator Proxmire---

Letter to Federal Reserve Board commenting on regulation B --
de Vise, Pierre, University of Illinois, reprints of working papers for the
Chicago Regional Hospital Study:
"Housing Construction in the Suburbs and Housing Demand and Prices

in the Inner City"---
"The Anti-Reliners : How Community Activists Forged a Devil Theory

of Urban Decay".
"The Thin Red Line: Geographic Patterns of Conventional and FHA

Home Mortgages Issued in Chicago in 1975"-

Federal Home Loan Bank Board:

Civil Rights investigative techniques.

Letter from Garth Marston, Acting Chairman, answering questions

received from Senator Proxmire -

Quiz concerning the Home Mor Disclosure Act.
Redlining example---
Sample examinations in which sex discrimination is suspected.

Sex discrimination complaint received...
Federal Reserve Board:

Answers to questions of Senator Proxmire contained in letter of

November 19, 1976, from Chairman Burns.-
Civil rights questionnaire-----
Consumer Advisory Council, brief biographical sketches of Chair-
man and members--

(III)

206

236

261

72

62

19

8
19

21

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