Statement of Administration Policy: H.R. 5613 - Truth in Savings and Credit Card Disclosure Act of 1986

(House)
(Lehman (D) California and one other)

The Administration fully supports the goal of H.R. 5613: to provide full and fair disclosure to consumers of information necessary for them to make informed financial decisions. Existing statutory and regulatory authority already exists to achieve this goal, however, and, for that reason, this legislation is unnecessary. Nonetheless, the Administration would not oppose H.R. 5613, should the Congress decide to act favorably on it.