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Cmte Financial Services (R)
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H.R. 1227, the GSE Risk and Activities Limitation Act

Washington, Apr 13 -

The legislation, introduced by Rep. David Schweikert, prohibits the GSEs from offering, undertaking, transacting, conducting or engaging in any new business activities while in conservatorship or receivership. This restriction will reduce Fannie Mae’s and Freddie Mac’s market dominance and limit their size.

On April 6, 2011, the Capital Markets Subcommittee approved H.R. 1227 on a voice vote.