Senate Committee Approves Housing Reform Bill

Law360, New York (May 20, 2008, 12:00 AM EDT) -- A U.S. Senate committee has approved housing reform legislation aimed at curbing the growing number of foreclosures and extending oversight of Fannie Mae and Freddie Mac, just weeks after the U.S. House of Representatives passed a similar measure.

On Tuesday, the U.S. Senate Committee on Banking, Housing and Urban Affairs voted in favor of the housing bill, which was proposed by Committee Chair Christopher J. Dodd (D-Conn.) and Ranking Member Richard Shelby (R-Ala.).

According to published reports, the Senate Committee voted 19-2 to approve the bill....
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