Replies to post #402858 on Fannie Mae-No Politics (FNMA)

[RCChristian]

Here is another Delicious quote:

"Some of the biggest changes to this year's version of the bill apply to the Consumer Financial Protection Bureau, the agency overseeing financial products such as mortgages and credit cards criticized by Republicans. While last year's bill would have replaced the bureau's single director with a five-member, bipartisan commission, this year's legislation would simply allow the president to fire the director for any reason. The agency also would see its powers trimmed to an enforcement role."

WILL THIS apply to FHFA too?!?! reduce to enforcement only role.

[obiterdictum]

Under the updated legislation, the director of the Federal Housing Finance Agency also would be removable at the president's will. The agency has control of the bailed-out mortgage giants Fannie Mae and Freddie Mac, and currently is led by an appointee and former House Democrat, Mel Watt.

http://www.washingtonexaminer.com/house-gop-dodd-frank-replacement-expected-this-month/article/2620037#.WO1XZjQ_Djk.twitter

Did not find in the Financial Choice Act (both versions) that indicates that the director of the Federal Housing Finance Agency also would be removable at the President's will.

Where is this information given in the different versions of the Financial Choice Act? Is this information found in the 2/6/20176 memo and without updated legislative text?

Source:
Financial Choice Act of 2016 - 12/2016
https://www.congress.gov/bill/114th-congress/house-bill/5983?q=%7B%22search%22%3A%5B%22financial+choice+act%22%5D%7D&r=1

Amendment to the Financial Choice Act of 2016
http://financialservices.house.gov/uploadedfiles/bills-114hr-hr5983-h001036-amdt-001.pdf

Financial Choice Act of 2016 - 9/2016
https://www.congress.gov/bill/114th-congress/house-bill/5983/text/ih

Hensarling 2/6/2017 Memo on Changes to Finaical Choice Act
http://www.bassberrysecuritieslawexchange.com/wp-content/uploads/sites/201/2017/02/Choice-Act-2-0-Memo-2-6-17.pdf