I 111th CONGRESS 2d Session H. R. 5391 IN THE HOUSE OF REPRESENTATIVES May 25, 2010 Mr. Hensarling (for himself, Mr. Bachus, and Mr. Garrett of New Jersey) introduced the following bill; which was referred to the Committee on Financial Services A BILL To revise the requirements regarding congressional testimony for the Federal Housing Finance Oversight Board.

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Short title

This Act may be cited as the Federal Housing Finance Oversight Board Increased Transparency Act of 2010.

2.

Congressional testimony

Subsection (e) of section 1313A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4513a) is amended— (1)in the matter preceding paragraph (1)— (A)by striking On an annual basis and inserting Not less frequently than annually; and (B)by striking Congress and inserting the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate; and (2)by inserting after and below paragraph (6) the following new flush matter: If at any time either enterprise receives funds from the Department of the Treasury under the Amended and Restated Senior Preferred Stock Purchase Agreement, dated September 26, 2008, amended May 6, 2009, and further amended December 24, 2009, between the United States Department of the Treasury and each enterprise, the Board shall testify before each of the Committees referred to in the preceding sentence before the conclusion of the calendar quarter during which such enterprise received such funds regarding the matters referred to in this subsection and such receipt of funds, and any testimony pursuant to this sentence during a year shall be considered to satisfy the requirement, for such year, under the preceding sentence to testify not less frequently than annually..