Fannie Mae (FNMA)

[familymang]

This is what the 5th circuit en banc said about this "advisory board" the first time around:

Other features strengthen FHFA’s independence. It runs on annual assessments collected from the GSEs, not public or appropriated money. It is “advise[d]” by the Federal Housing Finance Oversight Board: the Secretary of the Treasury, the Secretary of Housing and Urban Development, the Chairman of the Securities and Exchange Commission, and the FHFA Director. But the Board’s power is Lilliputian. It “may not exercise any executive authority, and the Director may not delegate to the Board any of the functions, powers, or duties of the Director.”

They discarded it as a meaningless/toothless board. This is the same panel that will review the appropriations issue and try to find any way to differentiate CFPB from FHFA (they didnt the first time around).