Collins v. Yellen

This case arose from shareholders’ challenge to the Federal Housing Finance Agency’s handling of Fannie Mae and Freddie Mac while they were in federal conservatorship, especially a Treasury-FHFA agreement that redirected the companies’ profits to the government. The Court considered both whether that challenge was barred by the housing statute and whether FHFA’s leadership structure—an independent agency headed by a single director removable only for cause—was unconstitutional.