Banking Law News

Trump’s Fannie-Freddie Plan Finds GOP Favor and Democratic Scorn

Sept. 10, 2019, 2:23 PMUpdated: Sept. 10, 2019, 4:11 PM

The top Republican and Democrat on the Senate Banking Committee split over the Trump administration’s plan for freeing Fannie Mae and Freddie Mac from federal control, a sign of the uphill battle Congress faces in overhauling the mortgage giants.

Idaho Republican Senator Mike Crapo, the banking panel’s chairman, said his preference is for lawmakers to take the lead on freeing the companies from federal control, but added that the administration should get going on reform. Senator Sherrod Brown, the committee’s top Democrat, labeled the plan a non-starter that will make housing more expensive.

The remarks, made at a Sept. 10...

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