A bill that would combine the regulators of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks faces an uphill battle, despite endorsement from House Banking Committee Chairman Jim Leach and others.

Sponsored by Rep. Richard Baker, R-La., the legislation would combine the oversight duties of the Office of Federal Housing Enterprise Oversight, the Federal Housing Finance Board and some of the jurisdiction of the Department of Housing and Urban Development into an independent agency called the Housing Finance Oversight Board.

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