Frank Introduces Bill to Use TARP Funds for Housing, Mortgage Relief

摘要

House Financial Services Committee Chairman Barney Frank (D-Mass.) has introduced legislation (H.R. 3068) to make troubled asset relief program (TARP) funds available for affordable housing and mortgage programs, including the national affordable housing trust fund.rnThe bill is co-sponsored by housing subcommittee chair Maxine Waters (D-Calif.) and Reps. Dennis Cardoza CD-Calif.) and Nydia Velazquez (D-N.Y.).rnThe legislation would channel $1 billion to the housing trust fund and $1.5 billion to the neighborhood stabilization program (NSP) from dividends paid to the government by financial institutions which have received TARP aid.