A new Senate plan would insure and regulate mortgage backed securities like credit union deposits.
The first female chairman of the Federal Reserve was easily confirmed in the Senate by a 59-26 vote.
Fed nominee says larger banks in line for more regulation.
In Senate hearing Tuesday, agency director also defends $95 million cost of CFPB building work.
Sessions, Corker, Cornyn, Roberts speak out on Fed nominee. "Ms. Yellen subscribes to the liberal school of thought."
President Barack Obama laid out his initiative to reform the secondary mortgage market in a speech on Aug. 6 that trash talked Fannie Mae and Freddie Mac and voiced support for a Senate bill that would wind down the government sponsored enterprises and replace them with a mostly privatized system.
President's new plan resembles Senate measure to wind down Fannie and Freddie.
Hampel will appear at first hearing on Senate GSE Reform legislation.
GOP panel members anxious to move measure along while Democrats ask to wait until after recess to allow public input.
Sens. Mark Warner (D-Va.) and Bob Corker (R-Tenn.) introduced legislation June 26 that would reform America’s housing finance system by replacing the government-sponsored enterprises Fannie Mae and Freddie Mac with a privately capitalized system.