Page:United States Statutes at Large Volume 82.djvu/207

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[82 STAT. 165]
[82 STAT. 165]
PUBLIC LAW 90-000—MMMM. DD, 1968

82 STAT.]

165

PUBLIC LAW 90-321-MAY 29, 1968

by law (5 U.S.C. 5708) for persons in the Government service employed intermittently. §404. Duties of the Commission (a) The Commission shall study and appraise the functioning and structure of the consumer fina.nce nidustry, as well as consumer credit transactions generally. The Commission, in its report and recommendations to the Congress, shall include treatment of the foli()wing 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. §405* Powers of the Commission (a) The Commission, or any three members thereof as authorized by the Commission, may conduct hearings anywhere in the United States or otherwise secure data and expressions of opinion pertinent to the study. I n connection therewith the Commission is authorized by majority vote (1) to require, by special or general orders, corporations, business firms, and individuals to submit in writing such reports and answers to questions as the Commission may prescribe; such submission shall be made within such reasonable period and under oath or otherwise as the Commission may determine. (2) to administer oaths. (3) to require by subpena the attendance and testimony of witnesses and the production of all documentary evidence relating to the execution of its duties. (4) in the case of disobedience to a subpena or order issued under paragraph (a) of this section to invoke the aid of any district court of the United States in requiring compliance with such subpena or order. (5) in any proceeding or investigation to order testimony to be taken by deposition before any person who is designated by the Commission and has the power to administer oaths, and in such instances to compel testimony and the production of evidence in the same manner as authorized under subparagraphs (3) and (4) above. (6) to pay witnesses the same fees and mileage as are paid in like circumstances in the courts of the United States. (b) Any district court of the United States within the jurisdiction of which an inquiry is carried on may, in case of refusal to obey a subpena or order of the Commission issued under paragraph (a) of this section, issue an order requiring compliance therewith; and any failure to obey the order of the court may be punished by the court as a contempt thereof. (c) The Commission may require directly from the head of any Federal executive department or independent agency available information which the Commission deems useful in the discharge of its duties. All departments and independent agencies of the Government shall cooperate with the Commission and furnish all information requested by the Commission to the extent permitted by law. (d) The Commission may enter into contracts with Federal or State agencies, private firms, institutions, and individuals for the conduct of

80 Stat. 499.

Reports to President and Congress.

Compliance order by court.

Research contract authority.