As we detailed earlier today, the Supreme Court’s CFPB decision sheds long-awaited, merciless light on Fannie and Freddie’s future. Mark Calabria correctly said yesterday that “it does not directly” affect FHFA. That said, it sure could. Were the Court to use the reasoning in the CFPB case, then FHFA would stand as an agency, but the President – this one or the next – would govern who serves as director.
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