Financial Services Committee to Markup Mortgage Reform Bill and Iran Sanctions Enabling Act

 H.R. 1327 and H.R. 1728

Washington, DC - The House Financial Services Committee will meet tomorrow, Tuesday, April 28, at 10:00 a.m. to consider the following measures:

• H.R. 1327, Iran Sanctions Enabling Act: Patterned after legislation enacted last year to enable divestment from firms investing in certain sectors in Sudan, H.R. 1327 provides authority to state and local governments to divest their assets from, or prohibit investment of their assets in, any company that invests $20 million or more: (1) in the energy sector in Iran; or (2) in a person that provides oil or liquefied natural gas tankers, or products used to construct or maintain pipelines used to transport oil or liquefied natural gas, for the energy sector in Iran; or (3) is a financial institution that extends $20 million or more in credit to be used for investment in the energy sector in Iran. For more information on H.R. 1327, click here.
   
• H.R. 1728, Mortgage Reform and Anti-Predatory Lending Act: H.R. 1728 is aimed at curbing predatory lending, which has been a major factor in the highest home foreclosure rate in the nation in 25 years. The bill is a tougher version of a measure sponsored in the previous Congress by Reps. Brad Miller and Mel Watt that would have overhauled mortgage regulations to prevent another subprime mortgage meltdown. The House approved the bill in 2007 with bipartisan support, but it was never passed by the Senate. For more information on H.R. 1728, click here.
   

WHO:              House Financial Services Committee
WHAT:            Markup of H.R. 1327 and H.R. 1728
WHEN:            Tuesday, April 28, 2009
                        10:00 a.m.
WHERE:          Room 2128, Rayburn House Office Building

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