On the recordApril 27, 2017
The manager's amendment that I am offering on behalf of Chairman Chaffetz makes technical and conforming changes to the bill. Applying FOIA to Fannie and Freddie while the entities remain in conservatorship will better ensure that the American people know what their government does with their taxpayer dollars. But, if and when Fannie and Freddie come out of conservatorship, the entities need to be able to operate as commercially competitive businesses. This amendment clarifies that Fannie and Freddie may use exemption 4, which protects sensitive commercial information from disclosure, regardless of whether information was obtained from a person outside of Fannie or Freddie, to protect their financially sensitive materials from public disclosure. Mr. Chairman, recognizing the administrative labors involved in setting up FOIA shops, the amendment also addresses the implementation date. Fannie and Freddie will likely need to hire staff, update their websites, and identify records to be made publicly available as a matter of course. The manager's amendment, therefore, provides Fannie and Freddie 6 months after the bill's enactment to establish their respective staffs and protocols to administer FOIA. Mr. Chairman, I urge adoption of the amendment, and I reserve the balance of my time.
