Oxley Urges Action on GSE Reform

September 1, 2006

House Financial Services Committee Chairman Michael G. Oxley (OH) recently urged Treasury Secretary Henry M. Paulson, Jr. to secure a compromise in the Senate on regulatory reform for the government-sponsored enterprises (GSEs). In a letter sent to Secretary Paulson, Chairman Oxley also notes the importance of enacting strong regulatory reform for the GSEs this Congress.

On October 26, 2005, the U.S. House of Representatives overwhelmingly approved H.R. 1461, the Federal Housing Finance Reform Act of 2005, by a vote of 331-90. The legislation would create an independent, world-class regulator for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.