On February 15, 2013, the House Financial Services Committee approved the Oversight Plan for the committee for the 113th Congress. The House Financial Services Committee Oversight Plan contains three amendments sponsored by Congressman Al Green (TX-09). The three amendments, passed by voice vote on February 14, 2013, are related to: (1) the effects of cuts to the Securities and Exchange Commission (SEC) brought on by sequestration, (2) veterans housing, and (3) the Fair Housing Act of 1968.
Congressman Al Green's first amendment approved by the Financial Services Committee this year will allow the committee to examine the effect possible cuts due to sequestration will have on the SEC's ability to meet its statutory obligations. Although, the SEC's responsibility was broadened under the Dodd-Frank Act, it primarily works to maintain fair and orderly markets as well as protect investors and consumers from fraud.
"We must ensure that the SEC's role as the financial police in our economy is not diminished," Congressman Al Green said. "The SEC's important mission of protecting consumers from fraud promotes stability in our economy."
The veterans housing amendment ensures that the Financial Services Committee will continue to review as well as promote coordination between the Department of Housing and Urban Development (HUD) as well as other agencies in their efforts to address veterans' housing issues. According to the Department of Veterans' Affairs, our nation has between 76,329 to 144,842 homeless veterans.
"Veterans should have all the support possible from a grateful nation that asks so much of them," Congressman Al Green said. "Ensuring our brave veterans are well taken care of transcends partisanship as well as ideology, and should remain one of the top priorities for our government."
The fair housing amendment will ensure that the Financial Services Committee continues to review whether the principles of the Fair Housing Act of 1968 are upheld to prevent invidious housing discrimination against consumers. According to the Department of Housing and Urban Development (HUD), 27,092 invidious housing discrimination complaints were reported in 2011.
"Invidious housing discrimination prevents Americans of all backgrounds from realizing the dream of homeownership," Congressman Al Green said. "Expansion of homeownership should not just be the dream of individuals, but also the goal of all Americans who want to grow our economy and allow all hardworking people to experience prosperity."