Justices Struggle With Fannie-Freddie Case Hinged on Presidential Powers

In many ways echoing last year’s Consumer Financial Protection Bureau challenge, shareholders of Fannie Mae and Freddie Mac took on the authority of the federal agency that oversees the mortgage giants Wednesday in a Supreme Court battle implicating billions of dollars.

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Financial Reporting Exemptions

The Consumer Financial Protection Bureau raised the thresholds at which financial institutions are required to report mortgage loans under the Home Mortgage Disclosure Act, so that “thousands of lending institutions will become exempt from reporting HMDA data, undermining the effectiveness of HMDA in achieving its statutory purposes,” the National Community Reinvestment Coalition claims in a federal complaint.

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