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Carter faces tough fight over small saver proposal
President Carter seeks to raise ceilings on passbook accounts to market rates and legalize interest bearing checking accounts with variable rate mortgages. Critics warn removal could hurt savings and loan associations and mortgage funding while supporters say current rules cost savers billions. Representative Moorhead calls the plan difficult to enact and Representative Annunzio vows to study the package before taking a position.
MENTIONED IN THIS ARTICLE
Washington
Carter
Treasury
Savings and Loan Associations
Frank Annunzio
D-Ill
House Banking Consumer Subcommittee
United States