Page:United States Statutes at Large Volume 110 Part 4.djvu/589

 PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-426 SEC. 2306. INCREASE IN CERTAIN CREDIT UNION LOAN CEILINGS. Section 107(5)(A) of the Federal Credit Union Act (12 U.S.C. 1757(5)(A)) is amended— (1) in clause (iv), by striking "$10,000" and inserting "$20,000"; and (2) in clause (v), by striking "$10,000" and inserting "$20,000". SEC. 2307. BANK INVESTMENTS IN EDGE ACT AND AGREEMENT COR- PORATIONS. The 10th undesignated paragraph of section 25A of the Federal Reserve Act (12 U.S.C. 618) is amended by striking the last sentence and inserting the following: "Any national bank may invest in the stock of any corporation organized under this section. The aggregate amount of stock held by any national bank in all corporations engaged in business of the kind described in this section or section 25 shall not exceed an amount equal to 10 percent of the capital and surplus of such bank unless the Board determines that the investment of an additional amount by the bank would not be unsafe or unsound and, in any case, shall not exceed an amount equal to 20 percent of the capital and surplus of such bank.". Subtitle D—Consumer Credit CHAPTER 1—CREDIT REPORTING REFORM Consumer Credit Reporting SEC. 2401. SHORT TITLE. Reform Act of lySro. This chapter may be cited as the "Consumer Credit Reporting 15 USC 1601 Reform Act of 1996". note. SEC. 2402. DEFINITIONS. (a) ADVERSE ACTION.— Section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a) is amended by adding at the end the following new subsection: "(k) ADVERSE ACTION.— "(1) ACTIONS INCLUDED. — The term 'adverse action'— "(A) has the same meaning as in section 701(d)(6) of the Equal Credit Opportunity Act; and " (B) means— "(i) a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, existing or applied for, in connection with the underwriting of insurance; "(ii) a denial of employment or any other decision for employment purposes that adversely affects any current or prospective employee; "(iii) a denial or cancellation of, an increase in any charge for, or any other adverse or unfavorable change in the terms of, any license or benefit described in section 604(a)(3)(D); and "(iv) an action taken or determination that is— "(I) made in connection with an application that was made by, or a transaction that was initiated by, any consumer, or in connection with a

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