Fannie Mae (FNMA)

[FOFreddie]

Right again - Robert.

Did you catch this quote from Senator Toomey regarding the CFPB?

"To make matters worse, the CFPB implemented this controversial change in law by fiat—without even rulemaking. This overreach was possible because the CFPB is structured to be unaccountable to Congress. It can simply take funds from the Fed, which also is not subject to appropriations, thereby doubly insulating the CFPB from congressional appropriations and control. That’s why the Fifth Circuit recently found the CFPB unconstitutional, holding its funding violates the Appropriations Clause.

The court noted: “The Bureau’s perpetual insulation from Congress’s appropriations power . . . renders the Bureau ‘no longer dependent and, as a result, no longer accountable’ to Congress and, ultimately, to the people.”"

Got to believe that Edith Jones will want to overturn the District Court in Collins. Not sure if the others will agree.

https://www.banking.senate.gov/newsroom/minority/toomey-to-biden-admin-stop-abusing-authority-to-advance-misguided-liberal-legal-theory