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President Biden on Tuesday formally nominated Acting Director Sandra L. Thompson to be the next director of the Federal Housing Finance Agency (FHFA).
Biden named Thompson the acting director in June, succeeding Mark Calabria. That decision came hours after the Supreme Court overturned a provision that prohibited the president from firing the FHFA director at will.
After a nearly two-year review period, FHFA stated that CSS should focus on "maintaining the resiliency" of Fannie and Freddie mortgage-backed securities platform.