TARP Reform and Accountability Act of 2009

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The TARP Reform and Accountability Act of 2009 is a bill introduced by Representative Barney Frank (D-Mass.) on January 9, 2009, to fix deficiencies in the TARP program and ensure that the second $350 billion tranche is implemented in a more comprehensive manner than the first. In particular, the legislation would propose that at least $40 billion of the next tranche go toward foreclosure mitigation.

The bill would extend TARP money to smaller community institutions and for the purchase of consumer loans, commercial real estate loans, mortgage-backed securities and municipal securities. It would also call for Treasury to develop a program to stimulate demand for home purchases. [1]

Other Resources[edit]

www.house.gov/apps

References[edit]

  1. Mending the TARP. The New York Times.