Biden Administration Axes Trump-Appointed Head of Agency That Oversees Fannie and Freddie
In a staffing shuffle at the top of the federal agency that oversees mortgage giants Fannie Mae and Freddie Mac, the Biden administration on Wednesday fired Trump appointee Mark Calabria following a Supreme Court decision that cleared the way for his dismissal. The Supreme Court ruled on Wednesday in the case, Collins v. Yellen, that the […]
In a staffing shuffle at the top of the federal agency that oversees mortgage giants Fannie Mae and Freddie Mac, the Biden administration on Wednesday fired Trump appointee Mark Calabria following a Supreme Court decision that cleared the way for his dismissal. The Supreme Court ruled on Wednesday in the case, Collins v. Yellen, that the structure of the Federal Housing Finance Agency (FHFA), which oversees Fannie and Freddie, is at least partly unconstitutional, effectively striking down a restriction that only allowed the president to fire the head of the agency for cause. Within an hour of the ruling (pdf), President Joe Biden fired Calabria, a Trump administration appointee who had pushed to end government control over the two mortgage giants. Calabria said in a statement that he respects the Supreme Court ruling and Biden's authority to remove him. "It has been the honor of a lifetime to serve as Director of the ...
