Ed Royce: “We need to see demonstrable progress on this issue. I stand ready to help on this”

In the decade leading up to the financial crisis of 2008, Fannie Mae and Freddie Mac spent nearly $200 million on lobbying activities and campaign contributions.

I would like to thank Mr. Engel of New York for his friendship for over 20 years on the committee, but also for his shared leadership over the last 6 years on this committee. I would also like to thank him for his commitment over the years…

I would like to caution against making a bad situation worse.

I plan to introduce legislation with two objectives: The first, to explicitly prohibit Fannie and Freddie from engaging in lobbying activities while in conservatorship.