SCOTUS rejects Fannie, Freddie profit sweep suits

The U.S. Supreme Court turned away four appeals from shareholders of Fannie Mae and Freddie Mac who claimed they were entitled to compensation after the U.S. Treasury Department collected more than $100 billion in profits from the two government-sponsored enterprises. The rejection follows the 2021 Collins v. Yellen decision which denied other legal arguments attempting to invalidate the profit sweep. Read on for more details.