8th Circ. Revives Freddie And Fannie Shareholder FHFA Suit

By Katryna Perera (October 7, 2021, 3:38 PM EDT) -- The Eighth Circuit on Wednesday partly reversed the dismissal of a lawsuit launched by shareholders of Fannie Mae and Freddie Mac who alleged the leadership structure and appointments of the Federal Housing Finance Agency — which oversees Fannie and Freddie — violated the U.S. Constitution.

The decision by the Eighth Circuit is the latest in a long-running legal battle waged by investors in the government-sponsored enterprises that have been under FHFA conservatorship for more than a decade.

The three shareholders had alleged in their Minnesota federal court suit that Congress unlawfully delegated authority over Fannie and Freddie to the FHFA under...

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