SEN. JEFF BINGAMAN (D-NM)

On February 16, 1993, Sen. Bingaman purchased between 1,000 and 15,000 dollars worth of stock in Ameribanc Investors (a bank holding company/savings and loan institution). He later sold this stock on May 24, 1993, but failed to report any capital gains/losses from the transaction on Part III of his Financial Disclosure Report.

This purchase correlates with two banking-related pieces of legislation.

On February 16, 1993, the House introduced H.R. 890: UNCLAIMED DEPOSITS AMENDMENTS ACT...To amend the Federal Deposit Insurance Act to provide for extended periods of time for claims on insured deposits (Referred to the House Banking Committee; Became Public Law 103-44 on June 28, 1993). This bill had wide bipartisan support.

On February 17, 1993, the Senate introduced S. 394: SMALL BUSINESS LOAN SECURITIZING/SECONDARY MARKET ENHANCEMENT ACT...To increase the availability of credit to small businesses by eliminating impediments to securitization and facilitating the development of a secondary market in small business loans (Referred to the Senate Banking Committee; Pending).

NOTES: Sen. Bingaman is # 9 on the Joint Economic Committee; his wife was a partner with the law/lobbying firm of Powell, Goldstein, Frazer and Murphy from January 1993 through June 1993 when she assumed a position with the Justice Department.