U.S. Attorney's Office Ditches Fannie Mae Probe

Law360, New York (August 24, 2006, 12:00 AM EDT) -- The United States Attorney's Office for the District of Columbia has abandoned its investigation into Fannie Mae, declining to file charges against the embattled mortgage lender for its alleged accounting misdeeds.

Fannie Mae announced the news on Thursday, vowing to continue working on its earnings restatement and improving the internal controls that had previously faltered.

"We will continue to work closely and cooperatively with our regulators as we move forward to carry out the terms of our agreements, complete our restatement and build a better company,"...
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