WASHINGTON – Reps. David Scott (D-Ga.), Jeb Hansarly (R-Texas) and Paul Ryan (R-Wis.) are the latest members of Congress to add his name to the growing list of co-sponsors to a bill, H.R. 2575, to reform the regulation of Government-sponsored enterprises. The latest three additions brings the total number of co-sponsors for H.R. 2575 to 22. Introduced by Rep. Richard Banker (R-La.), chairman of the House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises in response to the fallout from accounting misstatements and an upper management housecleaning at Freddie Mac in June, H.R. 2575 would among other things, change the name of the Office of Thrift Supervision to the Office of Housing Finance Supervision and move the regulation of Freddie Mac and Fannie Mae to the OHFS from the Office Federal Housing Enterprise Oversight (OFHEO). H.R. 2575 was referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises on July 9. Treasury Secretary John Snow was scheduled to testify before the House Financial Services Committee Sept. 4 on the regulatory structure of the housing GSEs. His testimony was rescheduled for Sept. 10.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.