Donald Riegle: “I again want to congratulate Senators Bryan and Bond for their outstanding work on the Consumer Reporting Reform Act of…”

“I again want to congratulate Senators Bryan and Bond for their outstanding work on the Consumer Reporting Reform Act of 1994. This is one of the most important pieces of consumer legislation that the Congress will consider this year and it has been my top consumer priority for 1994. During my tenure as chairman of the Banking Committee, the Banking Committee has taken numerous significant steps to safeguard the public interest and consumers. Among them we have strengthened our fair lending and community investment laws. We have expanded the Home Mortgage Disclosure Act to make data concerning loan applications available to the public, strengthened the Community Reinvestment Act to disclose both ratings and the data behind those ratings and required examiners to refer patterns of mortgage discrimination to the Justice Department for further action. The Consumer Reporting Reform Act of 1994 continues this line of achievement of the Senate Banking, Housing, and Urban Affairs Committee.”