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Article: Fannie Mae Breaks with Treasury on GSE Plan.(government-sponsored enterprises)
- Article from:
- American Banker
- Article date:
- October 2, 2003
- Author:
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Fannie Mae said Wednesday that it would oppose a key provision of the Treasury Department's plan to overhaul regulation of government-sponsored enterprises, and an internal company document cast doubt on its public support of the rest of the plan.
The Treasury has proposed a new agency under its wing that would oversee Fannie and Freddie Mac and, among other things, have the power to approve new products.
Fannie chairman and chief executive Franklin D. Raines had said in testimony on Capitol Hill last week that it was up to Congress to decide whether to give the new regulator product-approval authority. But Chuck Greener, Fannie's senior vice president ...