Text: H.R.5505 — 114th Congress (2015-2016)All Information (Except Text)

There is one version of the bill.

Text available as:

Shown Here:
Introduced in House (06/16/2016)


114th CONGRESS
2d Session
H. R. 5505


To amend the Consumer Financial Protection Act of 2010 to require annual studies on ending the conservatorship of Fannie Mae, Freddie Mac, and for other purposes.


IN THE HOUSE OF REPRESENTATIVES

June 16, 2016

Mr. Hill introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To amend the Consumer Financial Protection Act of 2010 to require annual studies on ending the conservatorship of Fannie Mae, Freddie Mac, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “GSE Review and Reform Act of 2016”.

SEC. 2. Annual studies on ending the conservatorship of Fannie Mae, Freddie Mac, and reforming the housing finance system.

Section 1074 of the Consumer Financial Protection Act of 2010 is amended—

(1) in subsection (a)—

(A) in paragraph (1), by inserting after “Secretary of the Treasury shall” the following: “, on an annual basis,”; and

(B) in paragraph (2), by striking “The study” and inserting “Each study”;

(2) by amending subsection (b) to read as follows:

“(b) Report and recommendations.—The Secretary of the Treasury shall submit a report on each study required under subsection (a), along with recommendations developed in such study, to the President, the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Representatives.”; and

(3) by adding at the end the following:

“(c) Appearances before Congress.—The Secretary of the Treasury shall appear before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives at annual hearings regarding each report required under subsection (b).”.