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On Friday, the en banc 5th Cir., by J. Willett, held that the FHFA, Fannie Mae and Freddie Mac's new regulator after the 2008 financial crisis, was unconstitutionally designed.
A separate majority finds that the correct remedy is prospective relief only. ca5.uscourts.gov/opinions/pub/1…
A separate majority finds that the correct remedy is prospective relief only. ca5.uscourts.gov/opinions/pub/1…
Dissenting as to the remedy, Judge Willett argues that the proper remedy is to vacate the FHFA's contract that the Shareholders say injured them.
Last term, SCOTUS declined to take up one of these Fannie/Freddie shareholder lawsuits. But now there is a circuit split, as well as a deeply divided 5th Cir.
Put this one in your "likely to see further review" pile.
Put this one in your "likely to see further review" pile.
