Despite constitutional violation, court rejects broad relief for shareholders of mortgage giants
SCOTUSBlog
JUNE 23, 2021
They made two arguments: first, that the FHFA and Treasury lacked the authority to enter into the amendment, and second, that the statute that created the FHFA is unconstitutional because it allows the president to fire the agency’s director only “for cause.”. Three shareholders went to court to challenge the 2012 amendment.
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