Duties of the Commission

§ 404. Duties of the Commission (a) The Commission shall study and appraise the functioning and structure of the consumer finance industry, as well as consumer credit transactions generally. The Commission, in its report and recommendations to the Congress, shall include treatment of the following topics: (1) The adequacy of existing arrangements to provide consumer credit at reasonable rates. (2) The adequacy of existing supervisory and regulatory mechanisms to protect the public from unfair practices, and insure the informed use of consumer credit. (3) The desirability of Federal chartering of consumer finance companies, or other Federal regulatory measures. (b) The Commission may make interim reports and shall make a final report of its findings, recommendations, and conclusions to the President and to the Congress by January 1, 1971.