On May 13, the GOP members of the House Financial Services Committee unveiled a second round of legislation reforming Fannie Mae and Freddie Mac. These measures are in addition to several other bills that were approved by the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises in early April. Click here for more information.
Legislation introduced includes measures to:
- Prevent the Treasury Department from the lowering the 10 percent dividend payment Fannie Mae and Freddie Mac are required to pay while under U.S. government conservatorship.
- Apply Freedom of Information Act (FOIA) requirements to Fannie Mae and Freddie Mac.
- Require the GSEs to “dispose of all non-mission critical assets.”
- Cap the total level of federal funds (bailout resources) the GSEs could receive.
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For additional information, members can contact Jason Boehlert at 703-558-0660 or firstname.lastname@example.org.