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House Financial Services Committee Passes Measure to Preserve Affordable Rental Housing

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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.

House Passes Flood Insurance Extension

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Washington, DC – The House of Representatives today passed H.R. 5114, legislation introduced by Congresswoman Maxine Waters (D-CA) to improve the National Flood Insurance Program (NFIP) and reauthorize the program for 5 years.

Frank Announces House Offer on Derivatives

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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.

Frank Announces House Offer on Prudential Regulation

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Chairman Frank, on behalf of the House conferees, released the House offer on the titles listed below.  The issues will be subject to debate when the House-Senate Conference Committee convenes in room SD-106, Dirksen Senate Office Building, at 1:00 p.m. tomorrow.

The Wall Street Reform Bill: Conference Update

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Last week was a successful week for the House and Senate conferees for the bill to bring accountability to Wall Street.  The bill creates a new consumer financial protection watchdog, ends too big to fail bailouts, sets up an early warning system to predict and prevent the next crisis, and brings transparency and accountability to exotic instruments such as derivatives.

House Passes Legislation to Help Homeowners, Reform Federal Housing Administration

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The U.S. House of Representatives today passed legislation introduced by Congresswoman Maxine Waters (D-CA) to help families realize the dream of homeownership, protect Americans from mortgage fraud and save taxpayers money. The FHA Reform Act of 2010 (H.R. 5072) ensures that the Federal Housing Administration (FHA) remains viable and continues its mission of insuring mortgage loans.  The bill passed overwhelmingly by a vote of 406-4.

Frank Sends Letter to C-SPAN Chairman On Public House-Senate Conference Meetings

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Yesterday, House Financial Services Committee Chairman Barney Frank sent the following letter to Brian Lamb, Chairman and CEO of C-SPAN, reiterating his call for the open, public House-Senate conference meetings to be carried on C-SPAN:    June 8, 2010  Dear Mr. Lamb, Thank you for committing the necessary resources to provide gavel-to-gavel coverage of the opening day of…

Frank Testimony Before the Ways and Means Committee on Internet Gambling

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Today, House Financial Services Committee Chairman Barney Frank (D-MA) testified before the Ways and Means Committee during a hearing on tax proposals related to Chairman Frank’s legislation to license and regulate Internet gambling activities. The following is Chairman Frank’s testimony as prepared for delivery: Chairman Levin, Ranking Member Camp, thank you for the opportunity to…

Frank Introduces National Flood Insurance Program Bill

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Financial Services Committee Chairman Barney Frank (D-MA) introduced legislation that is the second piece of a two-pronged approach to assure continuity and stability in the National Flood Insurance Program (NFIP) and the nation’s housing markets

Frank Statement on Citis Communities at Work Fund

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Today, Financial Services Committee Chairman Barney Frank (D-MA) commended the launch of a $200 million fund by Citigroup to help spur lending to small businesses and promote economic development in low-income communities.  The Communities At Work Fund will provide financing to Community Development Financial Institution (CDFI) Loan Funds that lend and assist small businesses in…

House Republicans Ought to be Embarrassed about their Record on Fannie and Freddie

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Rep. Spencer Bachus should know better.  In a long op-ed in Politico, the Alabama Republican talks at length about the supposed Democratic failure to reform the GSEs, but apparently President Bush’s “ownership society” doesn’t apply to Republicans taking responsibility for their own failures.  The Republican record on Fannie and Freddie is clear and…

Committee Passes Reforms To National Flood Insurance Program

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The House Financial Services Committee today passed legislation introduced by Congresswoman Maxine Waters (D-CA) to improve the National Flood Insurance Program (NFIP), the primary source of reliable, affordable flood insurance coverage for millions of American homes and businesses. The legislative reform package reauthorizes the program for 5 years. “Without being reauthorized, the…

Committee Approves Homeowners Insurance Reform Bill

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Today, the House Financial Services Committee approved by a vote of 39-26 the Homeowners’ Defense Act, innovative bipartisan legislation to reduce insurance premiums for homeowners around the country. The Homeowners’ Defense Act, authored by Rep. Ron Klein (D-FL) and co-sponsored by more than 70 of his colleagues representing over 30 states, allows states that choose to…

Committee Approves FHA Reform Act

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Today, the House Financial Services Committee approved legislation to ensure that the Federal Housing Administration (FHA) remains viable and continues its mission of insuring mortgage loans. Congresswoman Maxine Waters (D-CA), Chairwoman of the Housing and Community Opportunity Subcommittee, drafted the FHA Reform Act of 2010 (H.R. 5072) in response to recent events that caused…

Committee Approves Legislation to Promote Going Green to Save Green

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Today, to mark Earth Day, the House Financial Services Committee approved H.R. 2336, the GREEN Act (Green Resources for Energy Efficient Neighborhoods), by a voice vote. The bipartisan legislation, authored by Reps. Ed Perlmutter (D-CO) and Judy Biggert (R-IL), provides incentives to lenders and financial institutions which will help move our housing and building stock towards greater…

KANJORSKI BILL PRESERVING AFFORDABLE MORTGAGES IN AMERICAS HEARTLAND PASSES IN COMMITTEE

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Today, the House Financial Services Committee unanimously passed H.R. 5017, the Rural Housing Preservation and Stabilization Act of 2010, introduced by Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises.  This action clears the bill for consideration by the U.S. House of…

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