On December 16, 2015, congressional leaders unveiled an omnibus spending bill that prohibits the SEC from requiring corporations to disclose their political spending. Congressional negotiators included the provision, known as a “policy rider,” despite overwhelming public support for increased disclosure of campaign contributions.
On December 15, 2015, asked the Department of Justice (DOJ) to investigate three former Obama administration officials, David H. Stevens, Michael D. Berman and Jim Parrott, for possible violations of laws restricting post-employment activities. While working for the government, all three had focused on the future of Fannie Mae and Freddie Mac. After joining the private sector, they continued to work on this issue, now on behalf of some of the country’s largest banks.