By Jon Hill (June 25, 2021, 7:53 p.m. EDT) – A senior regulator is out of work after the United States Supreme Court upheld a constitutional challenge to the independent structure of the Federal Housing Finance Agency, but Fannie and Freddie the investors behind this challenge may find it difficult to capitalize on the decision.
The Supreme Court effectively handed President Joe Biden the keys to the FHFA with its Wednesday ruling in Collins v. Yellen, where a majority of six judges ruled that even “modest” limitations on the president’s ability to fire the head of a single director – agency run are unconstitutional.
In response, the White House has already decided to install a new leadership in …
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