ESTABLISHMENT OF THE FEDERAL HOUSING FINANCE AGENCY.

SEC. 1311. [12 U.S.C. 4511] ESTABLISHMENT OF THE FEDERAL HOUSING FINANCE AGENCY. (a) Establishment.—There is established the Federal Housing Finance Agency, which shall be an independent agency of the Federal Government. (b) General Supervisory and Regulatory Authority.— (1) In general.—Each regulated entity shall, to the extent provided in this title, be subject to the supervision and regulation of the Agency. (2) Authority over fannie mae, freddie mac, the federal home loan banks, and the office of finance.—The Director shall have general regulatory authority over each regulated entity and the Office of Finance, and shall exercise such general regulatory authority, including such duties and authorities set forth under section 1313, to ensure that the purposes of this Act, the authorizing statutes, and any other applicable law are carried out. (c) Savings Provision.—The authority of the Director to take actions under subtitles B and C shall not in any way limit the general supervisory and regulatory authority granted to the Director under subsection (b).