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Frank Admits Accepting Flawed’ Amendment to Housing Bill

In the rush to pass mortgage reform legislation out of his committee, House Financial Services Chairman Barney Frank (D-Mass.) on Thursday said he mistakenly accepted “a deeply flawed— amendment and plans to remove it during next week’s House debate.

Frank said he erroneously agreed to an amendment by Rep. Michele Bachmann (R-Minn.) that would bar indicted people from possible participation in government programs. That practice, he said, would be a violation of due process.

“I made a mistake yesterday in not objecting to the Bachmann amendment. I did not read it carefully, and it was in the last minute that the amendment was accepted. It is a deeply flawed amendment and I am opposed to it,— Frank said.

Frank plans to offer a corrected amendment when the anti-predatory lending bill comes to the House floor next week.

Bachmann has already been touting committee passage of the bill with her amendment, which she says is targeted at the Association of Community Organizations for Reform Now because the group has been under investigation for voter fraud and tax violations.

“Although I do not support the underlying legislation, I am pleased that the committee took these measures to provide some layer of protection for taxpayers,— Bachmann said in a statement.

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