1、CRS INSIGHT Prepared for Members and Committees of Congress Legal SidebarLegal Sidebari i UPDATE: Fannie & Freddie Investors Turn to Congress After S. Ct. Declines to Resurrect Their Legal Claims Updated July 25, 2018 UPDATE: On July 16, 2018, the U.S. Court of Appeals for the Fifth Circuit, in Coll
2、ins v. Mnuchin, became the fourth U.S. Court of Appeals to dismiss statutory claims asserted by Fannie Mae and Freddie Mac shareholders challenging the terms of the mortgage companies financial assistance agreements with the Department of the Treasury and the Federal Housing Finance Agency (FHFA). I
3、n a 2-1 decision, the Fifth Circuit rejected the shareholders statutory challenges to the agreements so-called “net worth sweep,” utilizing essentially the same legal reasoning applied by U.S. Courts of Appeals for the Sixth and Seventh Circuits, as well as the U.S. Court of Appeals for the District
4、 of Columbia, which was the subject of the original post below. In contrast to its sister courts, however, the Fifth Circuit also addressed a constitutional issue, holding that the FHFAs structure violated the separation of powers and Article II of the U.S. Constitution because “Congress encased the
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