House Passes GSE Bill Despite Bush Objection

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00005023-house-passes-gse-bill-despite-bush-object/

By Kristin Roberts, Reuters

The U.S. House of Representatives passed a bill on Wednesday overhauling supervision of Fannie Mae and Freddie Mac that gives a new regulator sweeping authorities over the mortgage finance giants’ management and operations.

The bill was approved by a wide margin — 331 to 90 — and came over the objections of the White House.

Passage marks the farthest that efforts to improve the companies’ oversight have advanced in years of discussion on Capitol Hill. It also shifts the focus to the Senate, where separate legislation remains stalled due to the inability of Republicans and Democrats to strike consensus.

For this complete story, please visit House Passes GSE Bill Despite Bush Objection.

House Passes GSE Bill Despite Bush Objection

Unknown Author

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