House Oversight Committee Marks Up GSE FOIA Bill

On Tuesday, March 28th, the House Oversight and Government Reform Committee, led by Chairman Jason Chaffetz, marked up a bill that would subject any entity in Federal conservatorship to the requirements of the Freedom of Information Act (FOIA). The markup resulted in a bill that was substantially similar to one that had previously been introduced, and if enacted, would subject both Fannie Mae and Freddie Mac to FOIA requirements.

Earlier this month, SFIG staff had the opportunity to speak with House Oversight staff about concerns with the bill, including questions about the scope of what would become publicly available material, the timeframe for which such information would be made available, and how proprietary and non-public information of private entities doing business with the GSEs would be protected. SFIG remains concerned over those questions as they relate to the the bill in its present form, and will work to ensure that the market continues to function by providing reasonable assurances to conduct private transactions with appropriate safeguards for confidentiality.

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