Replies to post #676408 on Fannie Mae-No Politics (FNMA)

[Guido2]

Thanks for the very informative response.

A huge difference between FDIC & FHFA is that the former guarantees the deposits for each account holder for up to $250,000. FHFA on the other hand is just a bloated leech.

[ano]

I see where you are going, Yes the FHFA after the SCOTUS ruling will be executive and need to be funded thru the appropriation act

The FHFA is independent, as established in HERA by congress, the plaintiffs question the “independent” styled agency because it is headed by a single director (the “for cause” claim), then the remedy cannot be to install a board, the courts can only rule on the question presented and that is: is a single director for an independent agency constitutional?, if yes they added a 4th branch to the constitution, if no the FHFA becomes executive and funded thru the appropriation act

A 4th branch to the constitution will never ever happen though, currently, NO agency except FHFA has a single director and is independent, meaning an agency with executive power, so it looks something like this:

Independent agency – Headed by a Board of Governors
Executive Agency - Headed by a single director

Independent agency – funded by others
Executive Agency – funded by the Government

Then the FHFA currently is thru 44 U.S.C. § 3502(5) https://www.law.cornell.edu/uscode/text/44/3502
headed by a Board of Governors, but it is headed by a single director, strange right?
Yes this might evolve as a huge problem, because it would mean all the actions taken by the single director are void ab initio

https://www.law.cornell.edu/uscode/text/44/3502
(5) the term “independent regulatory agency” means the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission, the Consumer Product Safety Commission, the Federal Communications Commission, the Federal Deposit Insurance Corporation, the Federal Energy Regulatory Commission, the Federal Housing Finance Agency, the Federal Maritime Commission, the Federal Trade Commission, the Interstate Commerce Commission, the Mine Enforcement Safety and Health Review Commission, the National Labor Relations Board, the Nuclear Regulatory Commission, the Occupational Safety and Health Review Commission, the Postal Regulatory Commission, the Securities and Exchange Commission, the Bureau of Consumer Financial Protection, the Office of Financial Research, Office of the Comptroller of the Currency, and any other similar agency designated by statute as a Federal independent regulatory agency or commission;