While the CFPB grabs headlines, another independent U.S. regulator is quietly locked in its own showdown with the Trump administration.
The Federal Housing Finance Agency is in deep discussions with the White House over what to do with more than $7 billion owed to the government at year-end by Fannie Mae and Freddie Mac.
FHFA officials in negotiations have said they want Fannie and Freddie to keep $2 billion to $3 billion each as a buffer against losses, according to people familiar with the matter. Administration officials in exchange want to limit the mortgage giants' market footprint by steps such as tightening restrictions on the size of loans they back, according to the people, who requested anonymity because the talks are private.
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