2004 Floor Statements

12/16/2004
Statement of Congressman Barney Frank on SEC Finding on Fannie Mae
"The SEC's finding that Fannie Mae used incorrect accounting is serious and disturbing. While these improper decisions by Fannie Mae do not threaten the financial soundness of the corporation, and should not be used by anyone in an effort to cut back on Fannie Mae's housing efforts, they do reveal troubling deficiencies in its corporate governance." (more)

12/03/2004
Statement from Financial Services Committee Ranking Member Barney Frank on the Weak Jobs Numbers Released Today
"Today's disappointing employment numbers confirm several unfortunate facts about the Bush administration's failure to create a workable economic policy." (more)

11/19/2004
Statement of Congressman Barney Frank Regarding HUD Inspector General Report on OFHEO
"The view inside of OFHEO provided by this report is very troubling. The senior management of OFHEO appears to have run roughshod over the judgment of professional staff and seriously compromised OFHEO's credibility as a financial regulator." (more)

08/16/2004
Statement on FDIC Proposal on Small Bank CRA Threshold
Rep. Barney Frank (D-MA), Ranking Member of the House Financial Services Committee, today issued the following statement: (more)

07/20/2004
Statement of Rep. Barney Frank (D-MA), Ranking Democrat of the House Financial Services Committee, on OTS' Proposed Changes to CRA Enforcement.
“I am extremely disappointed that the Office of Thrift Supervision (OTS) has proposed allowing an overwhelming number of thrift institutions to escape true enforcement of the Community Reinvestment Act (CRA). By changing the “small institution” threshold from $250 million to $1 billion the OTS would let exempt an additional 199 thrifts from the investment and service tests under CRA. Already 608 thrifts are defined as small institutions so the change means 88% of the regulated thrifts would have exams limited to their lending. It is poor policy to exempt such a vast majority of regulated institutions from one of this nation's most important financial laws. Click here.

03/04/2004
House Financial Services Committee Ranking Member Gives Floor Speech on Unemployment
Excerpt from the March 4, 2004 Congressional Record appears here.

02/02/2004
Statement of Congressman Barney Frank, Ranking Member, House Financial Services Committee, on the FY05 Budget
"The new U.S. Department of Housing and Urban Development budget proposal once again demonstrates that the Bush Administration is primarily concerned about the well-being of the rich and is trying to reduce the unmanageable deficit on the backs of the poor. (more)