[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2439 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2439

To amend the Federal Housing Enterprises Financial Safety and Soundness 
    Act of 1992 to authorize the Federal Housing Finance Agency, as 
 receiver of Fannie Mae or Freddie Mac, to revoke the charters of such 
enterprises or any limited-life regulated entity established under such 
                             receivership.


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                    IN THE HOUSE OF REPRESENTATIVES

                              July 7, 2011

 Mr. Stivers (for himself, Mr. Bachus, and Mr. Garrett) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

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                                 A BILL


 
To amend the Federal Housing Enterprises Financial Safety and Soundness 
    Act of 1992 to authorize the Federal Housing Finance Agency, as 
 receiver of Fannie Mae or Freddie Mac, to revoke the charters of such 
enterprises or any limited-life regulated entity established under such 
                             receivership.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Removing GSEs Charters During 
Receivership Act of 2011''.

SEC. 2. AUTHORITY OF RECEIVER TO REVOKE ENTERPRISE CHARTER ON WIND-UP 
              OR TERMINATION OF LIMITED-LIFE REGULATED ENTITY.

    Section 1367 of the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 4617) is amended by striking 
subsection (k) and inserting the following new subsection:
    ``(k) Authority of Receiver To Revoke Enterprise Charter.--The 
Agency as receiver of an enterprise--
            ``(1) may revoke the charter of the enterprise; and
            ``(2) shall, not later than the winding up or termination, 
        in accordance with subsection (i)(6), of the limited-life 
        regulated entity established with respect to such enterprise, 
        revoke the charter of such enterprise.''.
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