WASHINGTON — Representatives of major banks recommended Tuesday that Congress boost federal funding for affordable housing and reduce regulations to attract more private capital for low-income.

“Congress must look at ways to increase the federal subsidy for affordable housing” as well as streamline “rules and paperwork requirements in all federal … housing programs,” William T. Hinga, president of the Banc One Community Development Corp., said in testimony before the House Financial Services’ housing subcommittee.

Mr. Hinga’s words were echoed at the hearing by Joseph F. Reilly, senior vice president of J.P. Morgan Chase’s community development group.

Mr. Reilly suggested that Congress make community development funding more predictable for the private sector by funding it permanently rather than annually.

He also recommended additional federal support for such “simple, flexible” programs as the Community Development Financial Institutions fund, the Federal Home Loan banks’ affordable housing program, and “a streamlined” FHA product.

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