GSE Review and Reform Act of 2016

Bill: 114-hr-5505
Sponsor: full_name: Rep. Hill, J. French [R-AR-2]
Introduced: 2016-06-16
Policy area: Finance and Financial Sector
Subjects: Government corporations and government-sponsored enterprises

Government studies and investigations

Housing finance and home ownership
Latest action: action_date: 2016-06-16
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2016-06-16
action_desc: Introduced in House
text: <p><b>GSE Review and Reform Act of 2016</b></p> <p>This bill amends the Consumer Financial Protection Act of 2010 to require the Department of the Treasury to make annual studies (currently, just one) of specified options for ending the conservatorship of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), while minimizing the cost to taxpayers.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5505 IN THE HOUSE OF REPRESENTATIVES June 16, 2016 Mr. Hill introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Consumer Financial Protection Act of 2010 to require annual studies on ending the conservatorship of Fannie Mae, Freddie Mac, and for other purposes.

1. Short title This Act may be cited as the GSE Review and Reform Act of 2016 . 2. Annual studies on ending the conservatorship of Fannie Mae, Freddie Mac, and reforming the housing finance system Section 1074 of the Consumer Financial Protection Act of 2010 is amended— (1) in subsection (a)— (A) in paragraph (1), by inserting after Secretary of the Treasury shall the following: , on an annual basis, ; and (B) in paragraph (2), by striking The study and inserting Each study ; (2) by amending subsection (b) to read as follows: (b) Report and recommendations The Secretary of the Treasury shall submit a report on each study required under subsection (a), along with recommendations developed in such study, to the President, the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Representatives. ; and (3) by adding at the end the following: (c) Appearances before Congress The Secretary of the Treasury shall appear before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives at annual hearings regarding each report required under subsection (b). .