Elizabeth Warren co-sponsors Fannie-Freddie bill
WASHINGTON -- Massachusetts Senator Elizabeth Warren, eager to rebut charges during last year’s contentious campaign that she would not work across party lines, cosponsored a bipartisan bill today with fellow members of the banking committee.
The bill, called the “Jumpstart GSE Reform Act,” is intended to protect additional fees charged by government-backed housing lenders Fannie Mae and Freddie Mac from being diverted to other government programs. The bill also would prevent shares in Fannie and Freddie, which were purchased by the US Treasury during the housing crisis, from being sold without congressional approval. The measures are intended to spur reform in housing finance.
In addition to Warren, a Massachusetts Democrat, the bill’s other sponsors are Democrat Mark Warner of Virginia and Republicans Bob Corker of Tennesee and David Vitter of Louisiana.
“It has been nearly five years since the financial crisis, and it is past time to reform Fannie and Freddie,” Warren said in a statement.
Warren said during the campaign that she planned to work with Corker on reforming Fannie and Freddie.Noah Bierman can be reached at email@example.com. Follow him on Twitter @noahbierman.