Ed Royce: “longtime advocate of eliminating the failed duopoly that is Fannie Mae and Freddie Mac”

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PRESS RELEASES
Rep. Royce HFSC Subcommittees to Include Capital Markets, GSEs, Housing & Insurance
Washington, Jan 9

U.S. Representative Ed Royce (R-CA) released the following statement after being assigned to the Capital Markets and Government Sponsored Enterprises Subcommittee and Housing and Insurance Subcommittee by Chairman Jeb Hensarling (R-TX) of the House Financial Services Committee:

“As a longtime advocate of eliminating the failed duopoly that is Fannie Mae and Freddie Mac, I look forward to completing the unfinished work of financial reform and passing legislation that returns long-term stability to the housing market.  Congress must act to ensure a sustainable housing system that ends taxpayer-funded bailouts and encourages private sector capital, investment and innovation.  I’ll also aim to reverse Dodd-Frank’s failure to harmonize cross-border regulations, bring transparency and accountability to the regulatory bureaucracy, and shore up the financial system’s defenses against cyber attacks.”

The Capital Markets and Government Sponsored Enterprises Subcommittee has jurisdiction over U.S. capital markets, the securities industry, and government-sponsored enterprises, such as Fannie Mae and Freddie Mac. The Housing and Insurance Subcommittee oversees the Department of Housing and Urban Development (HUD) and government-sponsored insurance programs such as the National Flood Insurance Program (NFIP).

Rep. Royce is a senior member of the House Financial Services Committee and has been a member since 1995. He also serves as Chairman of the House Foreign Affairs Committee.

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