ACLU Files FOIA Suit in Search of Proof that FHFA Colluded with Industry to Stop Eminent Domain
December 13, 2013
The American Civil Liberties Union and the Center for Popular Democracy have filed a lawsuit under the Freedom of Information Act to compel the Federal Housing Finance Agency to provide details about its efforts to block municipalities from using eminent domain to prevent foreclosures. Filed in the U.S. District Court for the Northern District of California, the lawsuit seeks information regarding the FHFA’s relationship with big banks and MBS investors and whether such interests influenced the agency’s opposition. The suit was filed on behalf of community housing advocates in California, New Jersey and New York. Certain municipalities with large African-American and Latino populations, including Richmond, CA, and Irvington, NJ, are considering...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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