The Congress: King

From the first, the 90th Congress has suffered from a decidedly schizophrenic personality—free-spending and liberal in the Senate, tight-fisted and curmudgeonly in the House of Representatives. Last week, when the long-pending Truth-in-Lending bill came to a vote in the House, the roles were reversed. Where the Senate last summer diluted the measure to assure its passage, the House not only clapped back everything that had been stripped from it but broadened it considerably.

The bill requires creditors to tell prospective borrowers the true rate of interest they must pay and the dollars-and-cents cost of the loan as well. The House...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!