U.S. Rep. Paul E. Kanjorski, D-PA, a 24-year veteran member of the House of Representatives, is chairman of the Capital Market Subcommittee of the House Financial Services Committee.
In that important position, he oversees much of the nation’s financial activity and is playing a key role in restoring integrity to a system that has contributed to the nation’s economic turmoil.
Years before the current recession, Congressman Kanjorski identified troubling developments in the banking and housing sectors and fought to enact corrective legislation. Many of his efforts ultimately succeeded but some stalled or withered due to partisan opposition.
In 1994, Congressman Kanjorski helped enact homeowner protections against certain predatory home equity lending practices.
More than eight years ago, he began reviewing regulations governing the government sponsored home loan enterprises of Fannie Mae and Freddie Mac long before questionable accounting practices emerged and regulatory reform finally became law in 2007.
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