Fannie Mae’s regulators would move to oust top executives, including Chief Executive Franklin D. Raines and CFO J. Timothy Howard, if the company’s board doesn’t remove them on its own, according to a media report Friday.
Fannie Mae board members met Thursday without taking action but may meet again this weekend, the Washington Post said in a story in its online edition, citing unnamed sources close to the situation.
Raines and Howard have been under fire for their leadership of the government-chartered mortgage funding company in the wake of federal investigations of its accounting practices.
For this complete story, please visit Feds May Dump Fannie Mae Bosses.
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