House Banking Chairman Jim Leach introduced a bill Thursday to prohibit the Federal Reserve Board from eliminating its annual survey of bank fees and services.
The bill, co-sponsored by fellow House Banking Committee members Marge Roukema, R-N.J.; John J. LaFalce, D-N.Y.; and Bruce F. Vento, D-Minn., would save several reports slated to be discontinued, including ones published by the Treasury Department and the Federal Housing Finance Board.
The legislation would also preserve the Fed's tradition of sending its chairman before Congress to discuss the economy -- the semiannual Humphrey-Hawkins testimony.
By introducing the bill, Rep. Leach, R-Iowa, followed through on an Aug. 3 promise to preserve the bank-fee survey, which Fed Chairman Alan Greenspan had recommended dropping.
-- Scott Barancik