Statement of Administration Policy: H.R. 3011 - Home Equity Loan Consumer Protection Act of 1988

(House)
(Price (D) North Carolina and 63 others)

The Administration fully supports the goal of H.R. 3011, which is to provide full and fair disclosure to consumers of information necessary for them to make informed financial decisions. However, current statutory and regulatory authority exists to achieve this goal and, as a consequence, this legislation is not necessary. Nonetheless, the Administration would not oppose H.R. 3011, should the Congress decide to act favorably upon it.