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Public Statements

Housing and Economic Recovery Act of 2008

Floor Speech

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Date:
Location: Washington, DC

HOUSING AND ECONOMIC RECOVERY ACT OF 2008

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Mr. MARSHALL. Mr. Speaker, I want to seek a point of clarification from the managers of this bill regarding the intent and effect of the requirements in title V with respect to the licensing of certain loan originators. I want to confirm that these provisions do not interfere with or limit the Office of Thrift Supervision's or Office of Comptroller of the Currency's authority, including their regulation and oversight of a depository institution's products and services marketing and distribution system, and that, of course, as the principal regulators of federally chartered thrift institutions and national banks, they have the authority to make an appropriate definition of the term ``employee'' of a depository institution within the meaning of title V.

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