Case Law Index
federal2021
Additional Highlights:Separation of PowersFHFARemoval Power
Collins v. Yellen
United States Supreme Court
Key Holding
The FHFA's structure with a single director removable only for cause violates the separation of powers, but shareholders are not automatically entitled to retrospective relief.
Case Summary
Collins v. Yellen held that the Federal Housing Finance Agency's single-director-for-cause structure violated the separation of powers, while finding that shareholders challenging the net worth sweep of Fannie Mae and Freddie Mac were not entitled to retroactive rescission of agency actions taken under the unconstitutional structure.
Primary Source: https://www.courtlistener.com/opinion/6739793/collins-v-yellen/