Congress gets power to subpoena Fannie Mae
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The chairman of a US Congressional panel responsible for Fannie Mae gained authority to subpoena executives at the biggest US mortgage finance company for information related to allegations of accounting errors.
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A House of Representatives panel on   Wednesday extended its probe into Hewlett-Packard Co.'s use of   private telephone records by subpoenaing five private   investigators to testify at a Thursday hearing.
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The proposal by federal regulators comes as subprime mortgages have come under stress and scrutiny.
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Fannie Mae, the US biggest government-ruled mortgage lender, faces formal investigation conducted by the US Justice Department of possible accounting fraud.
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The subpoenas from Congress intensify pressure on the White House over the dismissals of U.S. attorneys.
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A U.S. House Financial Services  subcommittee will hold a hearing on accounting problems at  mortgage funder Fannie Mae FNM.N next week, the committee  said on Wednesday.
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The Justice Department has opened an investigation into possible accounting fraud by the mortgage giant Fannie Mae. The criminal inquiry, still in a preliminary stage, came
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The chairman of the U.S. House of  Representatives Financial Services Committee will this year  scrutinize the mortgage lending industry and draft new consumer  protections for credit card holders, he said on Friday.
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The shadow of an FBI investigation  spread across the subprime mortgage crisis on Tuesday, while  the U.S. Congress moved closer to emergency relief for millions  of distressed homeowners.
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TALLAHASSEE, Florida  - Florida has subpoenaed Countrywide Financial Corp  as part of a widening investigation into subprime lending practices, the state's attorney general said on Thursday.
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The House of Representatives  Committee on Energy and Commerce has subpoenaed Chiron Corp.  for certain documents and materials relating to its Fluvirin  flu vaccine, the company said in a regulatory filing on Monday.
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The defense contractor charged with bribing convicted former congressman Randy "Duke" Cunningham has subpoenaed 13 House members, including former speaker J. Dennis Hastert, to testify in his federal trial.
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Regulators investigating Fannie Mae's accounting practices have sent subpoenas to the No. 1 U.S. mortgage finance company in connection with the probe, a source familiar with the matter said on Friday.
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The U.S. House Energy and Commerce   Committee said on Wednesday that it subpoenaed five private   investigators to testify at the Hewlett-Packard Co. HPQ.N   data privacy hearing on Thursday.
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US Representative Barney Frank introduced legislation yesterday that would establish for the first time close federal supervision of mortgage brokers, who have become the dominant providers of home loans - particularly the subprime loans at the heart of the foreclosure crisis.
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The Senate on Friday overwhelmingly passed legislation to expand the nation's largest federal homeownership program in a move that could help struggling subprime borrowers avoid foreclosure.
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The Justice Department has begun a criminal investigation into mortgage giant Fannie Mae, which has been accused of earnings manipulation and ordered to revamp its accounting, it was learned Thursday.