Wednesday, April 10, 2024 8:01:30 PM
A couple of additional thoughts to the original post. Like I said, I am trying to connect the dots.
(1) The linked article below provides a scenario where it appears the FHFA's power is equal to that of congress. FHFA passes a rule and must require an act of congress to reverse which implies that the rule is equivalent to legislation.
https://financialregnews.com/house-passes-bill-to-reverse-fhfa-mortgage-rule/
(2) I may need help with the following logic. The FHFA was established as an independent agency. SCOTUS ruled that the director could be removed at will. Shouldn't that imply that the director serves at the will of the president? Per wiki (best and quickest reference I have), because the agency is run by a single director and not a panel, the agency is no longer an independent federal agency. Also, the agency funding is not controlled by congress. So, I don't think the agency has the same status after the SCOTUS ruling as before. How do you define it? Is it an executive agency that is independently funded? Whatever it is, no one has bothered to question it or update any rules, laws...etc.
https://en.wikipedia.org/wiki/Independent_agencies_of_the_United_States_government
See also where Demarco himself questions what the FHFA is (sheet 11).
https://democrats-financialservices.house.gov/uploadedfiles/hhrg-118-ba04-wstate-demarcoe-20230517.pdf
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