Amendment106th Congress
Amendment clarifies that a lender cannot require a customer to obtain insurance from one of its affiliates, and, that a customer is free to go to an unaffiliated company to obtain insurance if in fact insurance is required as a condition of a loan.
- Amendment Number
- 254
- Description
- Amendment clarifies that a lender cannot require a customer to obtain insurance from one of its affiliates, and, that a customer is free to go to an unaffiliated company to obtain insurance if in fact insurance is required as a condition of a loan.
- Purpose
- An amendment no. 9 printed in H. Rept. 106-214 to clarify that a lender cannot condition a loan on the purchase of an insurance product from the particular lender or one of its subsidiaries.
- Congress
- 106
- Type
- HAMDT
- Latest Action Date
- Jul 1, 1999
- Latest Action Text
- On agreeing to the Watt (NC) amendment (A009) Agreed to by voice vote.
- Latest Action Time
- 21:01:18
- Submitted Date
- Jul 1, 1999
- Chamber
- House of Representatives
- Update Date
- Aug 15, 2021