CREDIT DISCRIMINATION HEARINGS BEFORE THE SUBCOMMITTEE ON CONSUMER AFFAIRS OF THE COMMITTEE ON BANKING AND CURRENCY HOUSE OF REPRESENTATIVES NINETY-THIRD CONGRESS SECOND SESSION ON H.R. 14856 A BILL TO PROHIBIT DISCRIMINATION ON THE BASIS OF H.R. 14908 A BILL TO PROHIBIT DISCRIMINATION ON THE BASIS OF PART 1 JUNE 20 AND 21, 1974 Printed for the use of the Committee on Banking and Currency 36-910 O U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1974 For sale by the Superintendent of Documents, U.S. Government Printing Office $4,20 NYREBAD. Pennsylvania SGERMAIN, Rhode Island AURINZALEZ Texas KUNNE New Jersey District of Columbia ANDREW YOUNG, Georgia JOHN JOSEPH MOAKLEY, Massachusetts FORTNEY H. (PETE) STARK, JR., California LINDY (MRS. HALE) BOGGS, Louisiana WILLIAM B. WIDNALL, New Jersey LAWRENCE G. WILLIAMS, Pennsylvania MARGARET M. HECKLER, Massachusetts PHILIP M. CRANE, Illinois JOHN H. ROUSSELOT, California STEWART B. MCKINNEY, Connecticut CLAIR W. BURGENER, California PAUL NELSON, Clerk and Staff Director JOSEPH C. LEWIS, Professional Staff Member ORMAN S. FINK, Minority Staff Director SUBCOMMITTEE ON CONSUMER AFFAIRS LEONOR K. (MRS. JOHN B.) SULLIVAN, Missouri, Chairman CONTENTS Flemming, Hon. Arthur S., Chairman, U.S. Commission on Civil Rights, and Commissioner, Administration on Aging, Department of Health, Education, and Welfare; accompanied by John A. Buggs, Staff Director, Gates, Margaret J., codirector, Center for Women Policy Studies; accom- Haeussler, Thomas A., president and chief executive officer, Capital Financial Services, Inc., Columbus, Ohio, and member, board of directors, National Consumer Finance Association; accompanied by Robert B. Norris, general counsel, National Consumer Finance Association... Jenkins, Issie, Associate General Counsel, Equal Employment Opportunity Kerr, Richard F., operating vice president for credit for Federated Depart- ment Stores, Inc., on behalf of the National Retail Merchants Associa- tion; accompanied by Alan Feldman, counsel for the association; and Lyall Rodgers, associate corporate credit manager of Federated Depart- Kolker, Ann, legislative coordinator, National Women's Political Caucus.. Lively, Randy, director of public affairs, Sears, Roebuck & Co., Chicago, Ill., accompanied by Randy Aires, assistant director for government Pottinger, Hon. J. Stanley, Assistant Attorney General, Civil Rights Russell, Charles T., senior vice president, National BankAmericard, Inc., San Francisco, Calif.; accompanied by Sharyn Campbell, Washington Stewart, Homer L., Jr., senior vice president, Republic National Bank of Dallas, Tex., on behalf of the American Bankers Association; accompanied by Matthew Hale, general counsel, American Bankers Page Association.. 300 ADDITIONAL INFORMATION SUBMITTED FOR THE RECORD Ambrose, James A., secretary-treasurer, International Consumer Credit Association, St. Louis, Mo., letter dated June 24, 1974, with an attached portion of a statement filed with the House Subcommittee on Consumer Credit, November 16, 1973, entitled "ICCA Urges Establishment of a National Credit Policy". American Association of University Women, statement submitted on be- American Bankers Association, statement presented on behalf of, by Homer 475 407 300 Brickfield, Cyril F., legislative counsel, National Retired Teachers Association and the American Association of Retired Persons, statement submitted supporting H.R. 14856... 484 Bucher, Hon. Jeffrey M.: Appendix to statement. Response to questions of: Chairman Leonor K. Sullivan.. Hon. Angelo D. Roncallo___ Buggs, John A., Staff Director, U.S. Commission on Civil Rights, letter Campbell, Sharyn G., response to request of Chairman Leonor K. Sullivan Chase Manhattan Bank, N.A., New York, N. Y., statement submitted by Credit Union National Association (CUNA), statement submitted by Department of Justice, statement presented by Hon. J. Stanley Pottinger, Edgeworth, Arthur B., staff vice president and Washington counsel, United Equal Employment Opportunity Commission, statement presented by Federal Reserve System, statement presented by Hon. Jeffrey M. Bucher, Flemming, Hon. Arthur S.: "Mortgage Money: Who Gets It?" a case study in mortgage lending 211 139 Gates, Margaret J.: "Credit Discrimination Against Women: Causes and Solutions," 363 Letter responding to the request of Chairman Leonor K. Sullivan to 399 Haeussler, Thomas A.: Page Prepared statement__ 95 Response to question of Hon. Fortney H. (Pete) Stark, Jr.- Harris, James H., senior vice president, Chase Manhattan Bank, N.A., 485 Hocker, Wallis G., vice president and general credit manager, J. C. Penney, 487 482 "ICCA Urges Establishment of a National Credit Policy," portion of J. C. Penney, New York, N. Y., letter from Wallis G. Hocker, vice president and general credit manager, dated June 21, 1974, with an attached copy of new credit application being distributed effective July 1, 1974. Jenkins, Issie, response to questions of Chairman Leonor K. Sullivan_... Jordan, Hon. Barbara, a Representative in Congress from the State of Texas: 480 475 487 69 Letter dated July 2, 1974 471 Statement relating to legislation prohibiting sex discrimination in the granting of credit__ 471 415 Kerr, Richard F.: Prepared statement.. Attached exhibits: A. "Number of New Credit Applications by Age Showing B. "Number of New Credit Applications Processed by Mari- 438 440 Kolker, Ann, prepared statement___ 395 482 447 Massey, Patricia A., prepared statement. 397 Morgan, Donald L., counsel, Interbank Card Association, statement submitted in connection with hearings on H.R. 14856__ 482 National BankAmericard, Inc. (NBI), statement presented by Charles T. Statement presented on behalf by Thomas A. Haeussler, member, board of directors___. 95 National Organization for Women (NOW), statement presented by 353 National Retail Merchants Association, statement presented by Richard F. National Retired Teachers Association and the American Association of 409 484 National Women's Political Caucus, statement presented by Ann Kolker, legislative coordinator.. 395 Norris, Robert B., general counsel, National Consumer Finance Association: Prepared statement.. Response to question of Hon. Fortney H. (Pete) Stark, Jr.... |