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Advocacy Blog
Wednesday, May 24, 2006
Fannie, Freddie Report May Spur Senate Bill
From the The Hill: Lobbyists still digesting the 340-page report from the Office of Federal Housing Enterprise Oversight (OFHEO) were optimistic that the agency’s harsh criticism of Fannie would give a shot in the arm to stalled negotiations on legislation creating a new regulator for government-sponsored enterprises, or GSEs. Fannie will pay $400 million in fines to OFHEO and the Securities and Exchange Commission, more than double the amount that its fellow GSE, Freddie Mac, paid in 2003.
“Obviously people have been waiting for the report, and we would hope it would provide impetus for moving legislation,” said Floyd Stoner, executive director of congressional relations for the American Bankers Association.
Posted by Jennifer Lowe
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