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Supreme Court finds FHFA structure unconstitutional

A Supreme Court decision in Collins v. Yellen has found the structure of the Federal Housing Finance Agency (FHFA) unconstitutional, allowing for the removal of its director.

The case questioned whether the Biden administration would have the power to fire the agency’s director, Mark Calabria, a Trump-appointee and vocal critic of the government-sponsored enterprises. The court found that restricting his removal was unconstitutional.

“The President must be able to remove not just officers who disobey his commands but also those he finds ‘negligent and inefficient,’… those who exercise their discretion in a way that is not ‘intelligen[t] or wis[e],’ … those who details ⇒

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