In a staffing shuffle at the top of the federal agency that oversees mortgage giants Fannie Mae and Freddie Mac, the Biden administration on Wednesday fired Trump appointee Mark Calabria following a Supreme Court decision that cleared the way for his dismissal.
The Supreme Court ruled on Wednesday in the case, Collins v. Yellen, that the structure of the Federal Housing Finance Agency (FHFA), which oversees Fannie and Freddie, is at least partly unconstitutional, effectively striking down a restriction that only allowed the president to fire the head of the agency for cause.
