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Housing finance reform passes senate banking committee

(May 15, 2014) — Following the Senate Banking Committee passage of Senate Banking Committee Chairman Tim Johnson (D-SD) and Senator Mike Crapo’s (R-ID) bill S.1217, the Housing Finance Reform and Taxpayer Protection Act of 2013, Credit Union National Association (CUNA) President and CEO Bill Cheney issued the following statement:

“It’s critical that government-sponsored enterprise (GSE) reform ensures equal and competitive access for credit unions and other small lenders to the housing finance market – and avoids further concentration of the primary and secondary mortgage markets to Wall Street and the largest of lenders. This legislation takes significant steps toward accomplishing both. Our thanks to Chairman Johnson and Ranking Member Crapo for their leadership.”

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