Regulator Targets Fraudulent Financial Instrument Transactions at Fannie, Freddie, the 12 FHLBanks
June 25, 2009
The Federal Housing Finance Agency last week issued a proposed regulation that would require Fannie Mae, Freddie Mac, and the 12 Federal Home Loan Banks to report any fraudulent financial instruments that they purchased or sold. The proposed regulation would require each of the government-sponsored enterprises to report to FHFA any “discovery of fraud or possible fraud, in connection...