[John Tower Speech to Savings and Loan Associations about Legislation Affecting Savings and Loan Industry - c. 1973]
Description: Speech delivered by Senator John Tower to Savings and Loan Associations updating them on legislative developments that may affect their industry. Tower explains changes occurring in the housing market such as reduced construction of homes and the flight of people to inner city housing. He also mentions measures that could hurt thrift associations such as President Nixon's proposal for a Department of Housing and Urban Development co-insurance program that would require savings and loan associations to insure loans with the Federal Housing Administration. There is also a major concern about Federal Reserve regulations that could essentially transfer funds from thrifts to commercial banks. To alleviate this issue, John Tower introduced and promoted Senate Joint Resolution 160 as a "band-aid" and hopes that Senate Bill 2591 will provide a more thorough diagnosis of the problem.
Creator: Tower, John G. (John Goodwin), 1925-1991
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Partner: Southwestern University