Financial Services Committee Members Urge Senate Action on GSEs

September 15, 2006

This week, 64 members of the House Financial Services Committee wrote to Senate Banking Committee Chairman Richard C. Shelby and Ranking Member Paul S. Sarbanes encouraging them to have the Senate address the need to create a stronger regulator for the Government- Sponsored Enterprises (GSEs) this Congress. The Committee members also pledge their support to work with the Senate to find a compromise that attains the bicameral, bipartisan goal of strengthening oversight of the GSEs.

The House of Representatives overwhelmingly approved H.R. 1461, the Federal Housing Finance Reform Act, in October 2005. The bipartisan legislation would create a world-class regulator for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.