COMMITTEE ON THE DISTRICT OF COLUMBIA THOMAS F. EAGLETON, Missouri, Chairman DANIEL K. INOUYE, Hawaii CHARLES MCC. MATHIAS, JR., Maryland (II) Burke, Vincent C., executive vice president, Riggs National Bank.. 121 Danzansky, Joseph B., president, Giant Foods, and president, Metropolitan Washington Board of Trade.... Hahn, Gilbert, Jr., Chairman, District of Columbia Council Janeway, Eliot, president, Janeway Publishing & Research Corp., New Jennings, L.A., chairman of the board, Riggs National Bank_. 57 66 Kessler, Miss Gladys; Greater Washington Chapter, Americans for Dem- MATERIAL SUBMITTED Burns, Arthur F., Chairman of the Board of Governors, Federal Reserve 38 133 Hahn, Gibert, Jr., Chairman, District of Columbia Council, prepared statement. Danzansky, Joseph B., president, The Metropolitan Washington Board Hechinger, John W., former Chairman, District of Columbia Council, and president, Hechinger, letter to the chairman, August, 24, 1971.Jennings, L.A., chairman of the board, Riggs National Bank, addenda to statement: (1) Legislation since 1902 affecting bank interest rate ceilings in 50 (2) Average ceiling rates authorized by the 50 States for unsecured (3) Ceiling rates-unsecured installment loans. (4) Ceiling auto rates_ (5) Revolving credit accounts. Kass, Benny L., Executive Director, District of Columbia Commission on Interest Rates and Consumer Credit: Letter to district manager, Silver Spring, Md., April 10, 1970___. 25 74 Memorandum from Edward Gross re bank interest rates on auto loans in the District of Columbia 71 Map of District of Columbia metropolitan area showing number of banks and offices in each jurisdiction... 54 Phillips, Channing E., District of Columbia Democratic National Committeeman, prepared statement.. 133 Proposed regulation exempting certain loans and mortgages from the usury law of the District of Columbia____ 34 (III) DAN A LED-Continued the city council from Commission or Credits the District of Columbia Commission oc Credit or Neighborhood Consumer Information law, letter to the chairman, August 26, 1971 Bros., letter to Benny Kass, October 1, 197 TABLES rcial banks: Gross loans 1967–69.. onsumer installment loan breakeven points 968-69 and capital accounts of national E Maryland, and Virginia, December 31, 1963. parative credit union report-April 30, 1979. elease-April 30, 1970. APPENDIX Installment Credit and Retail Sales Practures of abia Retailers.. P. NTEREST AND USURY THURSDAY, AUGUST 5, 1971 U.S. SENATE, COMMITTEE ON THE DISTRICT OF COLUMBIA, Washington, D.C. committee met at 9:30 a.m., pursuant to notice, in room 6226, nate Office Building, Senator Thomas F. Eagleton (chairman committee) presiding. nt: Senator Eagleton. present: Robert Harris, staff director; Gene E. Godley, general Robert B. Washington, counsel; and Carolyn W. Johnson, y staff director. CHAIRMAN. Good morning. The Senate District of Columbia tee is in order to hear and take testimony on S. 1938, a bill to the banking laws to allow the District of Columbia banks to the lower of the interest rates which are legally allowed in d and Virginia. ill under consideration, S. 1938, is as follows: bill S. 1938 follows:) (1) MATERIAL SUBMITTED-Continued Report and recommendations to the city council from Commission on Page Separate report from members of the District of Columbia Commission on Smith, Joseph F, executive director; Neighborhood Consumer Information Shanogle, John A., attorney at law, letter to the chairman, August 26, 1971.. West, Martin R., Jr., Weaver Bros., letter to Benny Kass, October 1, 1970.. District of Columbia commercial banks: Gross loans 1967-69_ Loans granted by amount 1968–69. Principal assets, liabilities, and capital accounts of national banks in the APPENDIX Economic Report on Installment Credit and Retail Sales Practices of 7 28 134 22 23 24 141 |