Housing finance and data security will be top items on the Senate Banking Committee’s agenda in this Congress, committee Chairman Mike Crapo (R-Idaho) told attendees at ABA’s Washington Summit today. Reform of the housing GSEs Fannie Mae and Freddie Mac has “eluded Congress for over a decade,” he explained, “but we all agree it’s time to fix the flawed system in a bipartisan manner.”
Crapo also praised the banking industry for its leadership on data protection. “The financial services industry excels in this area compared to other industries,” he said, adding that he would advance “legislative solutions to give consumers more control and enhanced protection.”
Crapo also said the committee would focus on flood insurance and Export-Import Bank reauthorization, as well as keeping a close eye on efforts—regulatory and otherwise—to pressure banks to stop serving legal industries.