Tag Archives: Fannie Mae

A TALE OF TWO AGENCIES: THE TRAVAILS OF THE CFPB AND FHFA — CHAPTER 4: THE SUPREME COURT DECISION IN COLLINS v YELLEN (nee MNUCHIN)

By | June 25, 2021
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 In three prior posts (here and here and here) I analyzed two Supreme Court cases that challenged the constitutional legitimacy of the Consumer Financial Protection Bureau (CFPB) and Federal Housing Finance Agency (FHFA). In Seila Law v CFPB[1] the Court held that the agency’s Director is an executive officer of United States and is, accordingly, removable at will by the President. In Collins v Yellen and… Read More »

Cruel and Unusual Circumstances: The Fed’s Use and Misuse of Penalty Rates

By | June 21, 2021
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After a political and legislative showdown at the end of 2020, Congress closed the Fed’s most novel Section 13(3) emergency lending facilities—the ones aimed most directly at Main Street. These facilities—supported by Treasury funds allocated by the Coronavirus Aid, Relief, and Economic Security (CARES) Act—lent only a fraction of their stated maximum lending limits, leaving many criticizing the programs’ overly punitive… Read More »