Quote – Senator Phil Gramm , Chairman of the Senate Committee on Banking, Housing and Urban Affairs.

CRA has enabled special interest groups to collect billions of dollars from banks under agreements that are kept secret. Even the citizens that these groups purport to represent have no way of knowing how the groups spend the money they get from banks. That s why I hope the Senate will approve a sunshine amendment that will add accountability to this process and bring these agreements into, the light of day.

Statement on Community Reinvestment and S. 900, the Financial Services Modernization Act of 1999, by Phil Gramm , Senator, Chairman of the Senate Committee on Banking, Housing and Urban Affairs.

Tuesday, May 4, 1999
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