Section 1 Short title
This Act may be cited as the “GSE Review and Reform Act of 2016”.
GSE Review and Reform Act of 2016
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.
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—
in subsection (a)—
in paragraph (1), by inserting after “Secretary of the Treasury shall” the following: “, on an annual basis,”; and
in paragraph (2), by striking “The study” and inserting “Each study”;
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.”
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).”