Texas Republicans Push for Dismantling Fannie and Freddie

Housingwire reports that two Texas Republicans, Reps. Jeb Hensarling and Randy Neugebauer, are on the front lines advocating the quick dismantling of Fannie Mae and Freddie Mac. Last week, Neugebauer sent a letter telling Elizabeth Warren she is “tasked with executing a fatally flawed plan” as she forms the Consumer Financial Protection Bureau (CFPB).  The organization was created as part of the Dodd-Frank Act in an effort to set clear rules for financial institutions when dealing with consumers. The bureau also will provide federal oversight of the non-bank companies and banks in the mortgage market. Housingwire says both Neugebauer and Hensarling worry that increased regulations will translate to increased costs for consumers as banks pass expenses associated with compling with Dodd-Frank and any CFPB mandates onto customers. A copy of Neugebauer’s letter is available here.
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