Truth in Savings Act Amendments of 1992

Truth in Savings Act Amendment of 1992 - Amends the Truth in Savings Act to provide that no minimum or maximum amount of civil liability shall be applicable with respect to the liability of a non-complying depository institution towards each member account holder in a class action suit.

 
HR 5608 IH
102d CONGRESS
2d Session
 H. R. 5608
To amend the Truth in Savings Act to repeal the maximum amount limitation
on certain recoveries for violations of such Act.
IN THE HOUSE OF REPRESENTATIVES
July 9, 1992
Mr. MCNULTY introduced the following bill; which was referred to the Committee
on Banking, Finance and Urban Affairs
A BILL
To amend the Truth in Savings Act to repeal the maximum amount limitation
on certain recoveries for violations of such Act.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. SHORT TITLE.
  This Act may be cited as the `Truth in Savings Act Amendment of 1992'.
SEC. 2. REPEAL OF MAXIMUM AMOUNT LIMITATION ON CERTAIN RECOVERIES FOR
VIOLATIONS OF THE TRUTH IN SAVINGS ACT.
  Section 271(a)(2)(B) of the Truth in Savings Act (12 U.S.C. 4310(a)(2)(B))
  is amended to read as follows:
  `(B) in the case of a class action, such amount as the court may allow,
  except that, as to each member of the class, no minimum or maximum amount
  shall be applicable.'.