If Rep. Scott Garrett has his way next year, covered bonds will become a viable way to provide an array of credit, the conservatorship of the GSEs will be unraveled and the new consumer protection bureau will be repealed.

But the New Jersey Republican, the top GOP lawmaker on the House Financial Services capital markets subcommittee, understands it would be difficult to carry out that agenda even if his party wins control of the House after the midterm elections.

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