The House Judiciary Committee and the House Financial Services Committee today released details of the combined housing bill the House may consider this week.  The measure will combine the Judiciary Committee provisions to allow bankruptcy judges to modify mortgages on primary residences, and the Financial Services Committee legislation which provides a servicer safe harbor, Hope for… Read more »

House Financial Services Committee Chairman Barney Frank today made the following statement after President Barack Obama announced the Homeowner Affordability and Stability Plan:  “President Barack Obama recently signed an important economic recovery bill to create jobs and help the country recover from the worst recession in recent history.  I am very pleased that today… Read more »

House Financial Services Chairman Barney Frank (D-MA) today received a letter from JP Morgan Chase CEO Jamie Dimon announcing a three-week foreclosure moratorium.  Earlier this week, Frank called on all holders and servicers of mortgages to initiate such a moratorium until President Obama announces the administration’s plan to reduce foreclosures.  Mr. Dimon’s letter… Read more »

House Financial Services Committee Chairman Barney Frank made the following statement in reaction to the remarks by Treasury Secretary Timothy Geithner introducing the Financial Stability Plan: “Treasury Secretary Geithner made a number of improvements to the overall TARP program that will increase accountability and transparency of this taxpayer-funded rescue of America’s… Read more »

House Financial Services Committee Chairman Barney Frank (D-MA) released the following statement on today’s job numbers:             “Today’s unemployment numbers are even worse than we thought.  This collapsing job picture means real harm to American families and underlines the need for immediate action to… Read more »

House Financial Services Committee Chairman Barney Frank (D-MA) sent a letter today to the TARP Special Inspector General praising him for his work in providing greater transparency for the TARP Program.  Frank’s letter, the text of which is below, is in response to a letter from Inspector General Barofsky, where the IG stated, “Specifically, we [Treasury Special… Read more »

House Financial Services Committee Chairman Barney Frank (D-MA), today announced the committee's six subcommittee chairs.  These recommendations will next be forwarded to the Democratic Caucus for final approval.  The Democratic subcommittee assignments are as follows: SUBCOMMITTEE ON CAPITAL MARKETS, INSURANCE, AND GOVERNMENT SPONSORED ENTERPRISES KANJORSKI, Paul,… Read more »

House Financial Services Committee Chairman Barney Frank (D-MA) today released the following statement in light of reports that President-elect Obama will ask President Bush to request the second $350 billion of TARP funds:             “I agree that the money should be made available under the appropriate conditions.  We… Read more »

  House Financial Services Committee Chairman Barney Frank (D-MA) today introduced H.R. 384, the TARP Reform and Accountability Act to amend the Troubled Assets Relief Program (TARP) provisions of the Emergency Economic Stabilization Act of 2008 (EESA). The legislation will strengthen accountability,… Read more »

House Financial Services Committee Chairman Barney Frank (D-MA) released the following statement regarding today’s job:             “Today’s disastrous job numbers confirm the complete inadequacy of the conservative approach to maintaining prosperity in this country.  What we are seeing is an increasing downward… Read more »