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Inside Washington (07/29/2010)
* WASHINGTON (7/30/10)--The House Financial Services Committee and its subcommittee on capital markets, insurance and government-sponsored enterprises (GSEs) announced Thursday that they will continue their series of hearings on the future of housing finance starting in September. The subcommittee, chaired by Rep. Paul Kanjorski (D-Pa.) will conduct an oversight hearing of the GSEs, and the full committee, headed by Rep. Barney Frank (D-Mass.), will continue its examination of policy options for restructuring the nation’s housing finance system. Kanjorski said in a release, “We also will examine the present policies related to calculating guarantee fees, including whether these charges are appropriately priced to cover risks and provide a reasonable return. Moreover, as our housing markets begin to stabilize, we will begin to consider innovative ideas for recovering the costs resulting from the decision to place Fannie Mae and Freddie Mac into conservatorship”… * WASHINGTON (7/30/10)--The House Financial Services Committee Wednesday approved two housing measures: H.R. 4868, the Housing Preservation and Tenant Protection Act of 2010 and H.R. 5814, the Public Housing Reinvestment and Tenant Protection Act. Both were approved in the same mark-up session as an Internet gambling bill the Credit Union National Association has been monitoring, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act (SEE RELATED: House committee approves Internet gambling legalization). H.R. 4868 aims to stem the loss of affordable rental housing nationwide and prevent the displacement of low-income tenants. H.R. 5814 aims to preserve the nation’s public housing program, which provides affordable rental housing for about three million Americans in 1.2 million households ... * WASHINGTON (7/30/10)--The Senate Banking Committee confirmed Janet Yellen as vice chairman of the Federal Reserve Board. Peter Diamond and Sarah Bloom Raskin also were nominated as governors of the board. The appointments now move to the full Senate for consideration (American Banker July 29).


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