U.S. Supreme Court. U.S. Supreme Court. (Source: Two Bridges Photography/Shutterstock)

The U.S. Supreme Court ruled Wednesday that the structure of the Federal Housing Finance Agency was unconstitutional and that a sitting president could remove the FHFA’s director – leaving the agency in a similar position as the CFPB. The ruling shifted the policy that the director for the FHFA only be fired for cause before the end of their five-year term.

In 2008, Congress created the FHFA to oversee the two mortgage giants, Fannie May and Freddie Mac, during the housing crisis.

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Michael Ogden

Editor-in-Chief for CU Times.

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