WASHINGTON — A bill expected to be introduced in the House Wednesday would put Fannie Mae and Freddie Mac under the supervision of the Federal Reserve Board, requiring the secondary mortgage market giants to get the central bank’s approval before entering new businesses.

The bill, a draft copy of which was obtained by American Banker, would direct the central bank to allow new activities only if they are “in the public interest,” and would give the Fed authority to review the government-sponsored enterprises’ current activities for compliance with their charters.

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