The Federal Housing Finance Agency (FHFA) will not contest the Fifth Circuit Court of Appeals’ July 2018 ruling that the agency is unconstitutionally structured, according to a brief filed by the agency days after Joseph Otting took over as its acting director.
Although the FHFA appealed the court’s decision in August under former Director Mel Watt, whose term recently expired, the agency filed a supplemental brief under Otting’s guidance stating its intention to accept the full court’s ruling on the agency’s constitutionality.
Find out more details about the FHFA’s new stance on the matter.