Amends the Equal Credit Opportunity Act to prohibit the Board of Governors of the Federal Reserve System from exempting from such Act any class of credit transactions that are primarily for personal, family, or household purposes. Permits the Board to exempt (for five years) a type or class of business or commercial transactions only after determining that application of such Act to such transactions would not contribute substantially to effecting the purposes of such Act.
Read twice and referred to the Committee on Banking.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Consumer Affairs and Coinage.
Subcommittee Hearings Held.
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