Saxton v. Federal Housing Finance Agency

In wake of the housing crisis, the Federal Housing Finance Agency, a new federal agency that “supervises” lenders Fannie Mae and Freddie Mac, forces them to turn their profits over to the U.S. Treasury instead of investors. Investors: We want our money back! The FHFA’s “net worth sweep” regulation is unlawful. Eighth Circuit: No, it’s lawful. Judge Stras, concurring: The investors “make a compelling case that the FHFA … has grown into a monster. But judges are not superheroes; we cannot run to the rescue every time danger looms.”

Tags: 2018, Eighth Circuit, Federal Housing Finance Agency, Judge Stras, Treasury

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