I just wanted to add my voice. The ranking member of the subcommittee has spent a good deal of time focused on the corporate governance of these GSEs. He is one of the best students ever in the House. This is a very thoughtful and, I think, wholly constructive amendment. It does not detract from any of the purposes that we have. In fact, I think it would enhance them, and I hope the amendment is adopted.
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I urge staff to pay close attention to the differences in products offered by nonbank institutions and to be mindful of Congress's intent in financial reform that State consumer protection laws be preserved to the extent possible.
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