White House taps insider to run agency that oversees Fannie, Freddie

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President Joe Biden announced that he will nominate Sandra L. Thompson to lead the Federal Housing Finance Agency. Thompson has served as the agency’s interim director since June after the president fired the agency’s previous director, Mark Calabria.
Biden’s ability to fire Calabria, who had been appointed by President Trump in 2019, was granted via a Supreme Court decision in a case involving shareholders of Fannie Mae and Freddie Mac. The FHFA is the main regulator overseeing the mortgage giants.
According to the White House, Thompson has four decades of government experience. Before she joined the FHFA, she worked at the Federal Deposit Insurance Corp.

This article was originally published by Marketwatch.com. Read the original article here.

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