In late July 2008, Congress, at the strong urging of the Bush administration, passed rescue legislation to expand Fannie Mae/Freddie Mac buy limits, expand Federal Housing Administration ( FHA ) loan insurance limits, …
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Congress Seeks to Expand Community Reinvestment Act, Punish …
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Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to "meet the credit needs" of "low-income, minority, and distressed neighborhoods." ...... After accounting errors totalling $11 billion were discovered in the bookds of Fannie and Freddie, Prez Bush in 2007 said that these govt sponsotred enterprises should complete a "robust reform package" before being allowed to expand their mortgage portfolios. Senator Dodd daid that ...