Frank has been involved in mortgage foreclosure bailout issues. In 2008 Frank supported passage of the American Housing Rescue & Foreclosure Prevention Act, intended to protect thousands of homeowners from foreclosure. This law, , is considered one of the most important and complex issues on which he worked. In an August 2007 op-ed piece in "Financial Times", Frank wrote, "In the debate between those who believe in essentially unregulated markets and others who hold that reasonable regulation diminishes market excesses without inhibiting their basic function, the subprime situation unfortunately provides ammunition for the latter view." Frank was also instrumental in the passage of , the Credit Cardholders' Bill of Rights Act of 2008, a measure that drew praise from editorial boards and consumer advocates. In 2007. Frank co-sponsored legislation to reform the Section 202 refinancing program, which is for affordable housing for the elderly, and Section 811 disabled programs. Frank has been a chief advocate of the National Housing Trust Fund, which was created as part of the Housing and Economic Recovery Act of 2008 and was the first affordable housing program to be enacted by the Congress since 1990.