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Supreme Court Says FHFA Director Can be Fired
6/23/2021 · by CRE Finance Council · GSE Multifamily Reform · Press Releases and Alerts
Today, the U.S. Supreme Court issued its decision in Collins v. Yellen (formerly known as Collins v. Mnuchin) and confirmed that the Federal Housing Finance Agency (FHFA) Director is removable at will by the President. FHFA is the regulator overseeing Fannie Mae and Freddie Mac (the GSEs). The Court also ruled that GSE shareholders' statutory claims must be dismissed, but remanded the separate constitutionality question to the Fifth Circuit. CREFC’s initial analysis is below, and we will continue to analyze the decision and its potential impact. Click here for additional background on the case.
Tags: FHFA · GSA · Calabria · Biden · Multifamily ·