Fanie Mae: Small Shareholder Suit Filed Two Years Ago Has Big Impact Today

Nearly two years ago, a retired bank manager and shareholder named Arnetia Joyce Robinson filed a complaint in U.S. District Court in Kentucky laying out the government’s violation of the law in its implementation of the Net Worth Sweep of Fannie Mae and Freddie Mac’s revenues. That court dismissed the case and Ms. Robinson filed an appeal with the U.S. Court of Appeals for Sixth Circuit in Cincinnati last November. This week, the Court will hear oral arguments in the case.

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