News Column

ABA Statement on Senate Banking Committee Passage of Housing Reform Legislation

May 15, 2014

WASHINGTON, May 15 -- The American Bankers Association issued the following statement by Frank Keating, ABA President and CEO:

"ABA commends Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho) on the Committee's passage of their housing reform legislation. The bill, which passed by a vote of 13 to 9, is a step forward in the reform process. Building upon legislation introduced by Sens. Bob Corker (R-Tenn.), Mark Warner (D-Va.) and a bipartisan group of senators on the Banking Committee, the bill establishes a thoughtful and realistic framework for a limited federal role in the housing finance system. The legislation incorporates many recommendations made by ABA and the Bipartisan Policy Center.

"While more work lies ahead before the full Senate considers the bill, today's action is a positive and needed step. We thank the members of the Senate Banking Committee and their staffs for their hard work and pledge to continue to work toward practical, needed GSE reform."

[Category: Banking]

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Source: Targeted News Service

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