Depository Institutions Deregulation and Monetary Control Act

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Depository Institutions Deregulation and Monetary Control Act
Great Seal of the United States
Other short titles
  • Depository Institutions Deregulation and Monetary Control Act of 1980
  • Consumer Checking Account Equity Act of 1980
  • Depository Institutions Deregulation Act of 1980
  • Financial Regulation Simplification Act of 1980
  • Monetary Control Act of 1980
  • Truth in Lending Simplification and Reform Act
Long title An Act to facilitate the implementation of monetary policy, to provide for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts, and to authorize interest-bearing transaction accounts, and for other purposes.
Nicknames Consumer Checking Account Equity Act of 1979
Enacted by the 96th United States Congress
Effective March 31, 1980
Citations
Public Law 96-221
Statutes at Large 94 Stat. 132
Codification
Titles amended 12 U.S.C.: Banks and Banking
U.S.C. sections amended 12 U.S.C. ch. 3 § 226
Legislative history

The Depository Institutions Deregulation and Monetary Control Act of 1980 (H.R. 4986, Pub.L. 96–221) (often abbreviated DIDMCA or MCA) is a United States federal financial statute passed in 1980 and signed by President Jimmy Carter on March 31.[1] It gave the Federal Reserve greater control over non-member banks.

References[edit]

  1. ^ http://www.presidency.ucsb.edu/ws/index.php?pid=33206#axzz1mquUfO88
  2. ^ a b Gilbert, Alton. "Requiem for Regulation Q: What It Did and Why It Passed Away", Federal Reserve Bank of St. Louis: pp. 31-33. [1]
  3. ^ Michelle Minton, The Community Reinvestment Act’s Harmful Legacy, How It Hampers Access to Credit, Competitive Enterprise Institute, No. 132, March 20, 2008.
  4. ^ John Atlas and Peter Dreier, The Conservative Origins of the Sub-Prime Mortgage Crisis, The American Prospect, December 18, 2007.

External links[edit]