§ 3001. — Congressional statement of findings and purpose.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3001]
TITLE 12--BANKS AND BANKING
CHAPTER 31--NATIONAL CONSUMER COOPERATIVE BANK
Sec. 3001. Congressional statement of findings and purpose
The economic and financial structure of this country in combination
with the Nation's natural resources and the productivity of the American
people has produced one of the highest average standards of living in
the world. However, the Nation has been experiencing inflation and
unemployment together with an increasing gap between producers' prices
and consumers' purchasing power. This has resulted in a growing number
of our citizens, especially the elderly, the poor, and the inner city
resident, being unable to share in the fruits of our Nation's highly
efficient economic system. The Congress finds that user-owned
cooperatives are a proven method for broadening ownership and control of
the economic organizations, increasing the number of market
participants, narrowing price spreads, raising the quality of goods and
services available to their membership, and building bridges between
producers and consumers, and their members and patrons. The Congress
also finds that consumer and other types of self-help cooperatives have
been hampered in their formation and growth by lack of access to
adequate cooperative credit facilities and lack of technical assistance.
Therefore, the Congress finds a need for the establishment of a National
Consumer Cooperative Bank which will make available necessary financial
and technical assistance to cooperative self-help endeavors as a means
of strengthening the Nation's economy.
(Pub. L. 95-351, Sec. 2, Aug. 20, 1978, 92 Stat. 499.)
Short Title of 1989 Amendment
Pub. L. 101-206, Sec. 1, Dec. 7, 1989, 103 Stat. 1832, provided
that: ``This Act [amending section 3014 of this title] may be cited as
the `National Consumer Cooperative Bank Amendments of 1989'.''
Short Title of 1981 Amendment
Pub. L. 97-35, title III, Sec. 390, Aug. 13, 1981, 95 Stat. 433,
provided that: ``This subtitle [subtitle C (Secs. 390-396) of title III
of Pub. L. 97-35, enacting sections 3017a, 3026, and 3051 of this title;
amending sections 3011 to 3015, 3017, 3018, 3019, 3024, 3025, 3042, and
3043 of this title, section 5315 of Title 5, Government Organization and
Employees, and sections 856, 867, and 868 of former Title 31, Money and
Finance; and enacting provisions set out as notes under sections 3011 to
3015, 3017, 3017a, 3019, 3025, and 3026 of this title] may be cited as
the `National Consumer Cooperative Bank Act Amendments of 1981'.''
Short Title
Section 1 of Pub. L. 95-351 provided: ``That this Act [enacting this
chapter and amending section 5315 of Title 5, Government Organization
and Employees, and sections 856, 867, and 868 of former Title 31, Money
and Finance] may be cited as the `National Consumer Cooperative Bank
Act'.''
