House Passes Chaffetz Sponsored Fannie and Freddie Open Records Act

Published: Apr 27, 2017

Legislation encourages transparency at financial entities 

WASHINGTON – Today, the House of Representatives passed H.R. 1694, the Fannie and Freddie Open Records Act of 2017, sponsored by House Oversight and Government Reform Committee Chairman Jason Chaffetz (R-UT). The bill passed unanimously 425-0. 

Chairman Chaffetz released the following statement:

What the Bill Does:

  • H.R. 1694 amends the Freedom of Information Act (FOIA) to make its provisions apply to Fannie Mae and Freddie Mac while in federal conservatorship.

Background:

  • The federal government spent approximately $187 million in taxpayer funds to bail out Fannie Mae and Freddie Mac.
  • Before the passage of H.R. 1694, these two entities were not subject to FOIA because they are not federal agencies.
  • In March, the Committee favorably reported the bill, as amended, to the House by voice vote.