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The Times News
Hendersonville, Henderson County, North Carolina
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In Raleigh, the Buncombe County delegation defends their bank offset bill, allowing debtors to offset loans with closed bank claims, against repeal attempts. Extensions to other counties were blocked by banking department and committees.
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But Measure for Banking Claims Sales Repealed for Other Counties
RALEIGH, May 2.-The Buncombe county delegation in the state legislature is prepared to defend the Buncombe county bank offset bill against efforts that are expected to be made this week to repeal it or to destroy its effectiveness by a state-wide measure.
The act passed the legislature without much attention, but when efforts were made to extend its provisions to 25 other counties the state banking department rose in opposition and stopped the procession. The house committee on banks showed its hostility by speedily giving unfavorable reports to measures including Henderson, Transylvania, Rutherford, Cherokee, Macon and Clay counties, while the senate killed one bill including 23 counties. The same senate forces, however, were unable to pass a bill aimed at the repeal of the Buncombe county act, which enables debtors to purchase deposit claims of closed banks in Buncombe county and use them as offsets against loans.
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Where did it happen?
Domestic News Details
Primary Location
Buncombe County
Event Date
May 2
Outcome
buncombe county bank offset bill defended against repeal; extensions to other counties opposed and stopped by state banking department and legislative committees.
Event Details
The Buncombe county delegation in the state legislature is prepared to defend the Buncombe county bank offset bill against efforts to repeal it or destroy its effectiveness by a state-wide measure. The act passed the legislature without much attention. Efforts to extend its provisions to 25 other counties were opposed by the state banking department. The house committee on banks gave unfavorable reports to measures including Henderson, Transylvania, Rutherford, Cherokee, Macon and Clay counties. The senate killed one bill including 23 counties. The same senate forces were unable to pass a bill aimed at the repeal of the Buncombe county act, which enables debtors to purchase deposit claims of closed banks in Buncombe county and use them as offsets against loans.