A bill to establish a National Commission on the Thrift Industry.

(Measure passed House, amended, roll call #436 (395-21))

Establishes the National Commission on the Thrift Industry. Requires the Commission to investigate: (1) the adequacy of the regulation of thrift institutions; (2) the financial condition and sources of income of the Federal Savings and Loan Insurance Corporation (FSLIC); (3) the extent of liability relating to the FSLIC's inventory of troubled thrift institutions; (4) methods for increasing capital levels in the thrift industry; (5) problems in the structure of the deposit insurance system and options for reforming such system; (6) the impact on the thrift industry of FSLIC assistance programs; (7) the role of the thrift industry in providing mortgage credit, including such industry's projected share of the mortgage market in the year 2000; (8) the role of the mortgage and commercial banking industries and the secondary mortgage market in relation to the thrift industry's role in providing such credit; (9) the need for specialized depository institutions to serve such market, including the extent to which such institutions affect the availability of low- and moderate-income housing; and (10) the potential sources of income for the FSLIC should the Commission determine that the financial resources of the FSLIC will be insufficient to eliminate the inventory of troubled depository institutions.

Requires the Commission, on or before February 1, 1989, to report to the President and specified House and Senate committees on its findings and conclusions, including its recommendations for administrative and legislative action.

Specifies that any expenses of the Commission shall be paid by the Secretary of the Treasury. Limits the total expenses of the Commission. Directs the Comptroller General to audit and report to the Congress on Commission expenditures.

Terminates the Commission 30 days after it submits its final report.