6/23, 6:53 PM (Source: TeleTrader)
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Biden to fire FHFA director after SCOTUS ruling

The Biden administration will replace Director of the Federal Housing Finance Agency (FHFA) Mark Calabria (pictured) following a Supreme Court decision that gave the president authority to remove him.

"In light of the Supreme Court’s decision today, the President is moving forward today to replace the current Director with an appointee who reflects the Administration’s values," a White House official said on Wednesday.

The FHFA oversees the country's mortgage giants commonly known as Fannie Mae and Freddie Mac. Calabria was appointed by former President Donald Trump to head the agency in 2019.

Breaking the News / JC