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HR 6990 110th Congress House Housing and Community Development Accounting and auditing Advisory bodies Bankruptcy Corporate finance and management Government corporations and government-sponsored enterprises Government studies and investigations Housing finance and home ownership Securities Wages and earnings

Independent Fannie Mae and Freddie Mac Investigative Commission Act

Introduced: September 22, 2008 Introduced by: Kaptur, Marcy Democratic · Ohio See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 24, 2008
Sponsor introductory remarks on measure. (CR H9411)
Sep 22, 2008
Referred to the House Committee on Financial Services.
Sep 22, 2008
Sponsor introductory remarks on measure. (CR H8547-8550)
Sep 22, 2008
Introduced in House
 Plain-English summary Congressional Research Service

Independent Fannie Mae and Freddie Mac Investigative Commission Act - Establishes the Independent Fannie Mae and Freddie Mac Investigative Commission to investigate and issue a final report on the period following the savings and loan crisis of the 1980s to the present.

Requires the Commission to investigate: (1) the policies, practices, and board decisions of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) from the 1990s through the present that led to their financial instability and subsequent federal conservatorship; (2) Fannie Mae and Freddie Mac's involvement, if any, in the creation and proliferation of the securitized mortgage instrument, and how such instrument affected their solvency; (3) the role of their boards of directors in developing their accounting and financial risk policies; (4) the actions of each board member or members, executive officer or officers, or the board member or members and executive officer or officers responsible for making the financial decisions to grow the enterprises' portfolios of subprime mortgage loans; and (5) the board member or members, executive officer or officers, or the board member or members and executive officer or officers responsible for making the decisions that may have encouraged the proliferation of the subprime mortgage industry.

What's happening now September 24, 2008

Sponsor introductory remarks on measure. (CR H9411)

 Committees of jurisdiction 1