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SEC. 3004. BANKING AGENCY PUBLICATION REQUIRE-
MENTS.
(a) IN GENERAL.—A qualifying regulatory agency
may take any of the following actions with respect to de-
pository institutions or other regulated entities whose
principal place of business is within, or with respect to
transactions or activities within, an area in which the
President, pursuant to section 401 of the Robert T. Staf-
ford Disaster Relief and Emergency Assistance Act, has
determined, on or after February 28, 1997, that a major
disaster exists, or within an area determined to be eligible
for disaster relief under other Federal law by reason of
damage related to the 1997 flooding of the Red River of
the North, the Minnesota River, and the tributaries of
such rivers, if the agency determines that the action would
facilitate recovery from the major disaster.
(1) PROCEDURE.—Exercising the agency’s au-
thority under provisions of law other than this sec-
tion without complying with—
(A) any requirement of section 553 of title
5, United States Code; or
(B) any provision of law that requires no-
tice or opportunity for hearing or sets maxi-
mum or minimum time limits with respect to
agency action.
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(2) PUBLICATION REQUIREMENTS.—Making ex-
ceptions, with respect to institutions or other entities
for which the agency is the primary Federal regu-
lator, to—
(A) any publication requirement with re-
spect to establishing branches or other deposit-
taking facilities; or
(B) any similar publication requirement.
(b) PUBLICATION REQUIRED.—A qualifying regu-
latory agency shall publish in the Federal Register a state-
ment that—
(1) describes any action taken under this sec-
tion; and
(2) explains the need for the action.
(c) QUALIFYING REGULATORY AGENCY DEFINED.—
For purposes of this section, the term ‘‘qualifying regu-
latory agency’’ means—
(1) the Board of Governors of the Federal Re-
serve System;
(2) the Comptroller of the Currency;
(3) the Director of the Office of Thrift Super-
vision;
(4) the Federal Deposit Insurance Corporation;
(5) the Financial Institutions Examination
Council;
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(6) the National Credit Union Administration;
and
(7) with respect to chapter 53 of title 31, Unit-
ed States Code, the Secretary of the Treasury.
(d) EXPIRATION.—Any exception made under this
section shall expire not later than February 28, 1998.
SEC. 3005. SENSE OF THE CONGRESS.
(a) FINANCIAL SERVICES.—It is the sense of the
Congress that the Board of Governors of the Federal Re-
serve System, the Comptroller of the Currency, the Direc-
tor of the Office of Thrift Supervision, the Federal De-
posit Insurance Corporation, and the National Credit
Union Administration should encourage depository insti-
tutions to meet the financial services needs of their com-
munities and customers located in areas affected by the
1997 flooding of the Red River of the North, the Min-
nesota River, and the tributaries of such rivers.
(b) APPRAISAL STANDARDS.—It is the sense of the
Congress that each Federal financial institutions regu-
latory agency should, by regulation or order, make excep-
tions to the appraisal standards prescribed by title XI of
the Financial Institutions Reform, Recovery, and Enforce-
ment Act of 1989 (12 U.S.C. 3331 et seq.) for trans-
actions involving institutions for which the agency is the
primary Federal regulator with respect to real property
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located within a disaster area pursuant to section 1123
of the Financial Institutions Reform, Recovery, and En-
forcement Act of 1989 (12 U.S.C. 3352), if the agency
determines that the exceptions can reasonably be expected
to alleviate hardships to the public resulting from such dis-
aster that outweight possible adverse effects.
SEC. 3006. OTHER AUTHORITY NOT AFFECTED.
No provision of this Act shall be construed as limiting
the authority of any department or agency under any
other provision of law.
TITLE IV—COST OF HIGHER EDUCATION
REVIEW
SEC. 40001. SHORT TITLE; FINDINGS.
(a) SHORT TITLE.—This title may be cited as the
‘‘Cost of Higher Education Review Act of 1997’’.
(b) FINDINGS.—The Congress finds the following:
(1) According to a report issued by the General
Accounting Office, tuition at 4-year public colleges
and universities increased 234 percent from school
year 1980–1981 through school year 1994–1995,
while median household income rose 82 percent and
the cost of consumer goods as measured by the
Consumer Price Index rose 74 percent over the same
time period.
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(2) A 1995 survey of college freshmen found
that concern about college affordability was the
highest it has been in the last 30 years.
(3) Paying for a college education now ranks as
one of the most costly investments for American
families.
SEC. 40002. ESTABLISHMENT OF NATIONAL COMMISSION
ON THE COST OF HIGHER EDUCATION.
There is established a Commission to be known as
the ‘‘National Commission on the Cost of Higher Edu-
cation’’ (hereafter in this title referred to as the ‘‘Commis-
sion’’).
SEC. 40003. MEMBERSHIP OF COMMISSION.
(a) APPOINTMENT.—The Commission shall be com-
posed of 11 members as follows:
(1) Three individuals shall be appointed by the
Speaker of the House.
(2) Two individuals shall be appointed by the
minority leader of the House.
(3) Three individuals shall be appointed by the
majority leader of the Senate.
(4) Two individuals shall be appointed by the
minority leader of the Senate.
(5) One individual shall be appointed by the
Secretary of Education.