South Carolina General Assembly
110th Session, 1993-1994

Bill 543

Indicates Matter Stricken
Indicates New Matter 

                    Current Status

Introducing Body:               Senate
Bill Number:                    543
Primary Sponsor:                Russell
Type of Legislation:            CR
Subject:                        Banking system, federal
                                regulation
Residing Body:                  House
Date Tabled:                    19930331
Computer Document Number:       JIC/5608HC.93
Introduced Date:                19930316
Last History Body:              House
Last History Date:              19930331
Last History Type:              Tabled
Scope of Legislation:           Statewide
All Sponsors:                   Russell
Type of Legislation:            Concurrent
                                Resolution
History


Bill  Body    Date          Action Description              CMN  Leg Involved
____  ______  ____________  ______________________________  ___  ____________

543   House   19930331      Tabled
543   House   19930325      Committee Report: Favorable     24
543   House   19930318      Introduced, referred to         24
                            Committee
543   Senate  19930317      Adopted, sent to House
543   Senate  19930316      Introduced
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

COMMITTEE REPORT

March 25, 1993

S. 543

Introduced by SENATOR Russell

S. Printed 3/25/93--H.

Read the first time March 18, 1993.

THE COMMITTEE ON

INVITATIONS AND MEMORIAL RESOLUTIONS

To whom was referred a Concurrent Resolution (S. 543), memorializing the Congress of the United States to take all steps necessary to eliminate that unnecessary federal regulation of the banking system, etc., respectfully

REPORT:

That they have duly and carefully considered the same, and recommend that the same do pass:

DEWITT WILLIAMS, for Committee.

A CONCURRENT RESOLUTION

MEMORIALIZING THE CONGRESS OF THE UNITED STATES TO TAKE ALL STEPS NECESSARY TO ELIMINATE THAT UNNECESSARY FEDERAL REGULATION OF THE BANKING SYSTEM THREATENING THIS STATE'S AND THE ENTIRE COUNTRY'S ECONOMIC WELLBEING.

Whereas, the members of the General Assembly note that regulation of the banking system by the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency has grown apace in recent years, needlessly restricting credit to individuals and small businesses; and

Whereas, this "credit crunch" could very well hinder economic growth, not only in this State, but also the country as a whole; and

Whereas, much of this regulatory tide has little or nothing to do with the safety or soundness of bank operations and threatens to destroy the cornerstone of economic growth--a sound and reliably profitable national banking system. Now, therefore,

Be it resolved by the Senate, the House of Representatives concurring:

That by this resolution, the Congress of the United States is memorialized to take all steps necessary to eliminate that unnecessary federal regulation of the banking system by the Federal Deposit Insurance Corporation, the Federal Reserve System, and the Office of the Comptroller of the Currency threatening this state's and the entire country's economic wellbeing.

Be it further resolved that a copy of this resolution be forwarded to each member of the South Carolina Congressional Delegation and the Secretary of the Treasury.

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