Political Quotes

James A. Leach: “I support this change in law. It is individually counterintuitive and socially counterproductive that lenders establish…”

On the recordOctober 9, 1998
I support this change in law. It is individually counterintuitive and socially counterproductive that lenders establish incentives to pull credit from individuals who pay their debt on time. This price fixing provision would have frustrated responsible free market precepts and would have, if it had been enacted, resulted in reduction of credit provided to consumers. Now that the conferees have appropriately agreed to accept the first part of that instruction but not the second, I and many others who voted against this instruction enthusiastically support this provision.
Said by
James A. Leach
Iowa
Source
govinfo.gov

Editor's note · Context

Discussing provisions of a conference report related to the Truth In Lending Act.

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