Production of FHFA Records, Information, and Employee Testimony in Third-Party Legal Proceedings
The Federal Housing Finance Agency (FHFA) is issuing a final rule governing the production of FHFA records, information or employee testimony in connection with legal proceedings in which neither the United States nor FHFA is a party. This final rule establishes requirements and procedures for parties to submit demands or requests, and factors for FHFA to consider in determining whether FHFA employees will provide records, information, or testimony relating to their official duties. FHFA's intent is to standardize practices, promote uniformity in decisions, preserve the ability of FHFA to conduct agency business, protect confidential information, provide guidance to demanding or requesting parties, minimize involvement in matters unrelated to FHFA's missions and programs, avoid wasteful allocation of agency resources, and preclude spending public time and money for private purposes.
The Federal Housing Finance Agency (FHFA) is issuing an interim final rule with request for comments that sets forth requirements and processes with respect to compensation provided to executive officers by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Home Loan Banks, and the Federal Home Loan Bank System's Office of Finance, consistent with the safety and soundness responsibilities of FHFA under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008.
Repeal of Disclosure Regulations
The Federal Housing Finance Agency (FHFA) is repealing two obsolete regulations issued by its predecessor agencies, the Office of Federal Housing Enterprise Oversight (OFHEO) and the Federal Housing Finance Board (Finance Board) with respect to the entities regulated by OFHEO and by the Finance Board. The regulations being repealed govern public financial disclosures made by the entities with respect to certain federal securities laws. The Housing and Economic Recovery Act of 2008 obviates the need for these rules, making them obsolete and unnecessary. This final rule repeals the two regulations in their entirety.