Washington, DC — U.S. Select Committee on Ethics Chairman Barbara Boxer (D-CA) and Vice-Chairman Johnny Isakson (R-GA) introduced legislation yesterday to increase transparency and strengthen mortgage disclosure requirements for Members of Congress.

 

Senator Boxer said, “Transparency is the key to accountability in government.  We must continually revisit ethics in government, and strengthening our disclosure rules takes an important step forward.”

 

“Since my first year in Congress, I have always disclosed my home ownership and the mortgages against my home. It’s the right thing to do and I believe it should be required of all members of Congress,” Senator Isakson said.

Specifically, this legislation would require Members of Congress to make a “full and complete” disclosure of residential mortgages, which includes, the date that the mortgage was entered, the range of the amount, the interest rate, the term, and the name and address of the creditor.

 

###