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The selection of the dean of the University of Michigan's public policy school comes after the president's first choice, Sarah Bloom Raskin, withdrew her nomination in the face of opposition from Republicans and one Democrat.
The main law policing redlining is the Community Reinvestment Act, which regulators enforce when banks seek to grow bigger. While Biden administration officials claim that rooting out redlining is a top priority, the federal government's merger review process is a mere formality.
The Federal Housing Finance Agency (FHFA), in its new strategic plan, indicated it is heading in a different direction than under the previous administration.
And much of the private equity gobble-up of the housing market is helped by government-backed Freddie Mac.
Amid a national housing crisis, giant private equity firms have been buying up apartment buildings en masse to squeeze them for profit, with the help of government-backed Freddie Mac. Meanwhile, tenants say they’re the ones paying the price.