Book Description

This document presents testimony from the June 1998 hearing on the Children's Development Act (H.R. 3637) held before the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises. H.R. 3637 encourages the lending of resources to child care facilities by allowing a bank or lender access to a federal reinsurance program that would insure that the risk taken on by the lender would be guaranteed in some portion to be repaid from the insurance fund should the borrower default. The transcripts include statements from: (1) the assistant secretary of the Louisiana Department of Social Services; (2) the executive director of Woman's Hospital Child Care Center; (3) the program director of YMCA Istrouma Teen Learning Center; (4) the owner and president of Reynolds Academy of Preschool Learning; (5) the program manager of Partnerships in Child Care; (6) vice president of corporate affairs at Providian Financial Corporation; (7) Rep. Paul E. Kanjorski; and (8) Rep. Carolyn B. Maloney. (EV)