Judge Blocks CFPB Employee Terminations, Californians for Homeownership Sues Los Angeles Over Housing Rezoning, and Fannie Mae Reports $17 Billion Net Income for 2024

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CFPB : Judge Blocks Employee Terminations

A U.S. District Judge has temporarily blocked the current administration’s efforts to terminate employees at the Consumer Financial Protection Bureau (CFPB) without cause. In a court order issued Friday, Judge Amy Berman Jackson ruled that CFPB employees cannot be fired without cause and that agency data cannot be deleted. The ruling also prevents any reduction in the bureau’s funding, which Trump’s acting director, Russell Vought, had previously sought to cut off.

The CFPB, established after the 2008 financial crisis, is tasked with protecting consumers from financial abuses, such as predatory lending, and ensuring transparency in financial products. The court decision follows a lawsuit by the National Treasury Employees Union and others, who argue that the administration is attempting to dismantle the agency. While the White House and the CFPB have not yet commented, the ruling marks a significant setback to the Trump administration’s push to eliminate the CFPB.

This decision comes amid other recent legal challenges to the ongoing government overhaul, including a judge ruling to restore foreign aid disbursements and halting cuts to federal research funding.

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Los Angeles for failing to follow through on state-mandated zoning commitments. Californians for Homeownership filed the lawsuit, claiming the city abandoned plans to rezone land for over 250,000 new housing units, including 130,000 affordable homes.

Under state law, cities are required to adjust land use policies to meet housing needs, but as of the February 12, 2025 deadline, Los Angeles has only updated two of its 16 community plans. The lawsuit seeks an order forcing the city to complete the rezoning within 60 days.

This legal action highlights growing pressure to enforce housing laws in California, where housing advocates argue that cities must meet their commitments to address the state’s ongoing housing crisis.

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Fannie Mae, a government-sponsored enterprise that supports the U.S. housing market by providing liquidity to lenders, has reported strong financial results for 2024. The company posted net income of $17 billion for the year and $4.1 billion for the fourth quarter, with a net worth of $94.7 billion by December 31. Fannie Mae’s mission is to make homeownership and rental housing more affordable by purchasing loans from lenders and providing a stable source of funding.

In 2024, Fannie Mae provided $381 billion in liquidity, helping finance about 1.4 million home purchases, refinancings, and rentals. It also acquired approximately 778,000 single-family loans, with half of those going to first-time homebuyers. Despite a slight dip in net income compared to 2023, Fannie Mae says it will continue to focus on affordable housing and market stability remains key to its mission.

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