Committee on Financial Services
Barney Frank (MA), Chairman of the Financial Services Committee
The Committee oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities.
Fannie Mae
Fannie Mae is a government-sponsored enterprise (GSE) chartered by Congress with a mission to provide liquidity, stability and affordability to the U.S. housing and mortgage markets.
Federal Reserve System (FRB)
The FRB is the central bank of the United States, and it provides the nation with a safe, flexible, and stable monetary and financial system.
Federal Deposit Insurance Corporation (FDIC)
Each depositor insured to at least $250,000 per insured bank.
Freddie Mac
Freddie Mac, one of America’s biggest buyers of home mortgages, is a stockholder-owned corporation chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing.
National Credit Union Administration (NCUA)
NCUA is the independent federal agency that charters and supervises federal credit unions.
Office of Comptroller of the Currency (OCC)
Ensuring a safe and sound national banking system for all Americans
Office of Thrift Supervision (OTS)
The OTS supervises a national thrift industry that is built on the bedrock of the American dream of homeownership—supplying affordable home financing for Americans from all walks of life.
Federal Financial Institutions Examination Council (FFIEC).
The FFIEC is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS), and to make recommendations to promote uniformity in the supervision of financial institutions.
In 2006, the State Liaison Committee (SLC) was added to the Council as a voting member. The SLC includes representatives from the Conference of State Bank Supervisors (CSBS), the American Council of State Savings Supervisors (ACSSS), and the National Association of State Credit Union Supervisors (NASCUS).
Community Planning and Development
The Community Reinvestment Act (CRA)
CRA (enacted by Congress in 1977) is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate.
The Neighborhood Stabilization Program (NSP)
NSP was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment.
