WASHINGTON, D.C. — This week, Representatives Ed Royce (R-CA) and Nydia Velázquez (D-NY) introduced the Fannie Mae and Freddie Mac Lobbying Regulation Act, H.R. 7382, bipartisan legislation aimed at limiting the two government-sponsored entities (GSE) in conservatorship from engaging in any type of lobbying activity.

Following introduction of the bill, Representatives Royce and Velázquez  released the following statements:

“If American taxpayers continue to be on the hook for Fannie and Freddie, then Congress should decide the future of these GSE's, not inside influencers,” said Rep. Royce. “History has shown that Fannie and Freddie's outsized political influence had a hand in creating the housing crisis. We should learn from the mistakes of the past.”

“It has been ten years since Congress placed Fannie and Freddie into conservatorship. I've grown increasingly concerned to hear that senior Fannie and Freddie officials are potentially trying to influence the future direction of the agencies,” said Rep. Velázquez. “I'm proud to join with Rep. Royce to cosponsor this legislation that would clearly and statutorily put an end to this practice. Congress, and Congress alone, should be determining what happens with Fannie and Freddie.” 

Additional:

The full text of the Fannie Mae and Freddie Mac Lobbying Regulation Act can be found HERE.