US HB1929 | 2009-2010 | 111th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Introduced on April 2 2009 - 25% progression, died in committee
Action: 2009-04-02 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 2 2009 - 25% progression, died in committee
Action: 2009-04-02 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Fannie Mae and Freddie Mac Investigative Commission Act - Establishes the Fannie Mae and Freddie Mac Investigative Commission to investigate and make recommendations to Congress regarding certain decisions of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises) that led to financial instability and federal conservatorship. Requires the Commission to analyze specified topics, including: (1) the role of the enterprises in expanding homeownership and in helping housing market recovery; (2) enterprise involvement in the development of faulty risk standards, accounting practices, and the creation and proliferation of the securitized mortgage instrument, and how such instrument affected the solvency of such enterprises; (3) the role of the respective boards of directors in voting for the policies relating to risk assessments, subprime mortgages, and the international securitization of mortgages; and (4) compensation, stock options, and financial benefits that accrued to executive officers and members of the boards of directors. Requires the enterprises and the Director of the Federal Housing Finance Agency to grant the Commission access to requested records and information.
Title
Fannie Mae and Freddie Mac Investigative Commission Act
Sponsors
Rep. John Conyers [D-MI] | Rep. Peter DeFazio [D-OR] | Rep. Raul Grijalva [D-AZ] | Rep. Walter Jones [R-NC] |
Rep. Marcy Kaptur [D-OH] | Rep. Bart Stupak [D-MI] |
History
Date | Chamber | Action |
---|---|---|
2009-04-02 | Referred to the House Committee on Financial Services. |
Subjects
Accounting and auditing
Bankruptcy
Corporate finance and management
Government corporations and government-sponsored enterprises
Government investigations
Housing and community development
Housing finance and home ownership
Securities
Wages and earnings
Bankruptcy
Corporate finance and management
Government corporations and government-sponsored enterprises
Government investigations
Housing and community development
Housing finance and home ownership
Securities
Wages and earnings
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/111th-congress/house-bill/1929/all-info |
Text | https://www.congress.gov/111/bills/hr1929/BILLS-111hr1929ih.pdf |