Committee on Financial Services

Washington, DC – Today, Congressman Barney Frank (D-MA), Chairman of the House Financial Services Committee, and Congressman Paul E. Kanjorski (D-PA), Chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises released letters to the White House calling for the Federal Housing Finance Administration (FHFA) to use all of its powers to recover money from companies that used fraud and deceptive practices to shift losses on to Fannie Mae and Freddie Mac.

Newton, MA – Congressman Barney Frank, Chairman of the House Financial Services Committee, announced that the Committee will hold a hearing in September in order to explore concerns raised about the provision of the Wall Street Reform and Consumer Protection Act, which provides some exemption to the Securities and Exchange Commission regarding the Freedom of Information Act (FOIA).

Washington, DC – Congressman Paul E. Kanjorski (D-PA), the Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, announced today that he will convene a September hearing to assess the limitations of the Securities Investor Protection Act (SIPA), a law that works to return money and securities to the customers of failed brokerages.  The hearing comes at the request of Congressman Gary L. Ackerman (D-NY), the Vice Chairman of the Capital Markets Subcommittee, and builds on legislation recently enacted into law.  This Capital Markets Subcommittee hearing will be the second in the 111th Congress on SIPA.

Washington DC—House Financial Services Committee Chairman Barney Frank and Capital Markets, Insurance and Government Sponsored Enterprises Subcommittee Chairman Paul E. Kanjorski today announced that the committee will continue its series of hearings on the future of housing finance in September.  Chairman Kanjorski will conduct an oversight hearing of the GSEs, and the full committee will continue its examination of policy options for restructuring the nation’s housing finance system.

Washington, DC - House Financial Services Committee today approved H.R. 4868, the Housing Preservation and Tenant Protection Act of 2010, comprehensive affordable housing legislation introduced by Chairman Frank that helps to stem the loss of affordable rental housing units across the country and prevent the displacement of low-income tenants, many of who are elderly or disabled.

Washington, DC – The House Financial Services Committee today passed the Public Housing Reinvestment and Tenant Protection Act (H.R. 5814),  legislation introduced by Congresswoman Maxine Waters (D-CA) to preserve and revitalize the nation’s public housing.

Washington, DC - Today, the House Financial Services Committee passed legislation to enable Americans to bet online and put an end to an inappropriate interference with their personal freedom.  H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act of 2009 would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the United States.

Americans have faced the worst financial crisis since the Great Depression. Millions have lost their jobs, businesses have failed, housing prices have dropped, and savings were wiped out.

Chairman Frank, on behalf of the House conferees, released the House offer on the title listed below.  The title will be subject to debate when the House-Senate Conference Committee convenes in room SD-106, Dirksen Senate Office Building, at 9:30 a.m. tomorrow.