US Congress House Bill 234 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on January 14 2013 - 25% progression, died in committee
Action: 2013-01-14 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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.

Fannie Mae and Freddie Mac Investigative Commission Act

Rep. Marcy Kaptur [D-OH]

Rep. Walter Jones [R-NC]

Date	Chamber	Action
2013-01-14	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/234/all-info
Text	https://www.congress.gov/113/bills/hr234/BILLS-113hr234ih.pdf