|
|
Article: Snow Seeks To Put GSEs Under Unit Of Treasury.(Treasury Secretary John Snow seeks more regulation for Fannie Mae, Freddie Mac)
- Article from:
- American Banker
- Article date:
- September 5, 2003
- Author:
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Treasury Secretary John Snow will ask lawmakers next week to shift regulation of Fannie Mae and Freddie Mac to a new unit of his agency that would examine the companies' financial health, have control over new products, and be financially independent from Congress, industry and government sources said.
Several sources said that high-level officials from the White House and several agencies agreed at a meeting Wednesday evening on a draft outline of Mr. Snow's testimony before the House Financial Services Committee next week. While some key details are still being discussed -- and with a week of debate still to go on others -- sources said the plan is not set in ...