March 07, 2022
The Fifth Circuit has sent an investor suit challenging the government's multibillion-dollar "net worth sweep" of Fannie Mae and Freddie Mac back to Texas federal court for further litigation tied to a previous U.S. Supreme Court ruling in the case that restructured the Federal Housing Finance Agency.
September 09, 2019
The full Fifth Circuit delivered a significant win to investors suing over the government's "net worth sweep" of Fannie Mae and Freddie Mac, reinstating part of their case and ruling the Federal Housing Finance Agency is unconstitutionally structured in a decision that may portend trouble ahead for the Consumer Financial Protection Bureau.
July 15, 2019
The Federal Housing Finance Agency's latest flip-flop on the question of its constitutionality is a reminder of why the full Fifth Circuit should deem the agency to be unconstitutionally structured, a group of Fannie Mae and Freddie Mac investors said Monday.
January 16, 2019
The Federal Housing Finance Agency has told the full Fifth Circuit that it won't defend the constitutionality of the for-cause removal protection enjoyed by directors of the agency, a move that comes about a week before the court will sit for en banc rehearing in the case.
July 17, 2018
The Fifth Circuit ruled Monday that the Federal Housing Finance Agency, created in the wake of the 2008 financial crisis to oversee the government-sponsored mortgage entities Fannie Mae and Freddie Mac, is unconstitutionally structured because its oversight by a single director who is insulated from the president violates the Constitution's separation of powers clause.