Representative Marcy Kaptur (D-OH) introduced H.R. 2093, The Fannie Mae and Freddie Mac Investigative Commission Act, on June 2. The bill would establish a commission comprised of eight congressional members to examine the practices, decisions, and policies made by Fannie Mae and Freddie Mac officials that affected the financial stability of the government sponsored enterprises (GSE).
Among the duties of the commission would be to analyze the GSEs’ appropriate responsibilities in aiding housing market recovery, as well as examine board and executive officer decisions regarding the overvaluation of risky mortgage investments and the increase in subprime mortgages.
The bill was referred to the House Committee on Financial Services and has no cosponsors.