Reorganization Plan No. 2 of 1956. S. Res. 291 June 1956. 84-2Considers Reorganization Plan No. 2 of 1956 to establish FSLIC as an independent agency. |
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Page 9
... field . Federal Deposit Insurance Corporation is independent of the Federal and State bank supervisory authorities , but coordination is an objective of the requirement that the Comptroller of the Currency be one of the members of the ...
... field . Federal Deposit Insurance Corporation is independent of the Federal and State bank supervisory authorities , but coordination is an objective of the requirement that the Comptroller of the Currency be one of the members of the ...
Page 12
... field which has been in existence for 22 years , and would effect this major change in operating procedure without careful study and without a thorough airing of conflicting views on the matter . 2. In the past , no experts in this field ...
... field which has been in existence for 22 years , and would effect this major change in operating procedure without careful study and without a thorough airing of conflicting views on the matter . 2. In the past , no experts in this field ...
Page 13
... field in which we are now concerned . When the question involved the establishment of the Federal Home Loan Bank Board as an inde- pendent agency and separation of this Board and the Insurance Corporation from the Housing and Home ...
... field in which we are now concerned . When the question involved the establishment of the Federal Home Loan Bank Board as an inde- pendent agency and separation of this Board and the Insurance Corporation from the Housing and Home ...
Page 14
... field . Nor has it been Government practice in the savings and loan field for the last 22 years . I am not concerned with the motives of the executive branch in suggesting this change . The suggestion is unsound . My own views are ...
... field . Nor has it been Government practice in the savings and loan field for the last 22 years . I am not concerned with the motives of the executive branch in suggesting this change . The suggestion is unsound . My own views are ...
Page 15
... field , generally , and also by the former chairman of that com- mittee , the ranking Republican Member , Senator Capehart . We all feel very definitely and very strongly that this is a matter of such a serious consequence , that it ...
... field , generally , and also by the former chairman of that com- mittee , the ranking Republican Member , Senator Capehart . We all feel very definitely and very strongly that this is a matter of such a serious consequence , that it ...
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Common terms and phrases
Accounting Office administration assets audit reports Banking and Currency billion board of trustees BRUNDAGE BUBB Chairman Colonel Sherman Committee on Banking Comptroller Cong Currency Committee Deposit Insurance Corporation Director effect established examinations executive branch Federal associations Federal Deposit Insurance Federal Government Federal Home Loan Frank Muller functions Government Operations Home Finance Agency Home Loan Bank Hoover Commission recommended Housing and Home increase inherently conflicting insurance program insure the accounts insured institutions June 18 KANE legislative lending agencies letter Loan Advisory Council loan associations Loan Bank Board Loan Bank System loan business loan institutions Loan Insurance Corporation Loan League MCALLISTER member institutions mortgage NORRIS COTTON organization present President promote and charter Reorganization Plan responsibility Savings & Loan Savings and Loan Senate Banking Senate Resolution 291 Senator COTTON Senator Fulbright Senator Sparkman Senator WOFFORD separate board statement Subcommittee on Reorganization task force tion United States Savings United States Senate Washington
Popular passages
Page 39 - ... in most respects comparable to that of the Federal Deposit Insurance Corporation. Although the Hoover Commission recommended that management of the Corporation be separated completely from the Federal Home Loan Bank Board, the plan provides that the Chairman of the Board shall be 1 of 3 members of the Board of Trustees of the Federal Savings and Loan Insurance Corporation with authority identical to that of the other trustees. It is believed that such an arrangement is necessary and desirable...
Page 4 - Prepared by the President and transmitted to the Senate and the House of Representatives in Congress assembled, April 24, 1958, pursuant to the provisions of the Reorganization Act of 1949, approved June 20, 1949, as amended CIVILIAN MOBILIZATION SECTION 1.
Page 7 - ... of this section, and the term "domestic association" means such savings and loan, building and loan, and homestead associations and cooperative banks as are domestic associations within the meaning of such statutory provision; (2) The term "give-away" means any merchandise or other thing of value, or services performed in whole or in part outside the premises of an association, furnished the recipient as a gift or premium or as a result of a drawing...
Page 4 - Director shall direct. (b) Such further measures and dispositions as the Director of the Bureau of the Budget shall deem to be necessary in order to effectuate the transfers provided for in subsection (a) of this section shall be carried out in such manner as he shall direct and by such agencies as he shall designate.
Page 2 - I would like at this time to insert in the record a copy of Senate Resolution 291, a copy of Reorganization Plan No.
Page 35 - ... regulations and directions and the frustrations of attempting to determine which agency to follow. Where 1 report now suffices, 2 would be necessary under the plan, probably in a different form and with different instructions. In short, redtape and agency buckpassing would result under the plan. 2. Under the plan the savings and loan institutions would have substantially increased operating expenses, All of the expenses of the Federal Home Loan Bank Board and of the Federal Savings and Loan Insurance...
Page 40 - Corporation shall deem, necessary in connection with such insurance, and (2) if the insurance is granted, to permit and pay the cost of such examinations as in the judgment of the Corporation may from time to time be necessary for its protection and the protection of other insured institutions, to permit the Corporation to have access to any information or report with respect to any examination made by any public regulatory authority and to furnish any additional information with respect thereto...
Page 45 - ... to serve as a member of the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation at the same time." The recommendation of the Hoover Commission would not be complied with, since the Chairman of the Federal Home Loan Bank Board would also serve as 1 of the 3 members of the board of trustees of the Federal Savings and Loan Insurance Corporation. 5. The President's plan presupposes that the Insurance Corporation would be strengthened by the reorganization plan and...
Page 3 - The rates of compensation fixed for these officers are, respectively, those which I have found to prevail in respect of comparable officers in the executive branch of the Government.
Page 31 - Kans., and I appear here today as chairman of the legislative committee of the United States Savings & Loan League.