Consolidated Case: 19-422 COLLINS V. MNUCHIN and 19-563 MNUCHIN V. COLLINS (2020-December-09)

19-422 COLLINS V. MNUCHIN, SECRETARY OF TREASURY

QUESTION PRESENTED:

In 2008, Congress created the Federal Housing Finance Agency (FHFA) - an "independent" agency with sweeping authority over the housing finance system. 12 U.S.C. § 4511(a ). Unlike every other independent agency except the Consumer Financial Protection Bureau, FHFA is headed by a single Director who can only be removed for cause by the President and is exempt from the congressional appropriations process. 12 U.S.C. §§ 4512(b)(2), 4516(f)(2).

19-563 MNUCHIN V. COLLINS

QUESTION PRESENTED:

During the national housing crisis of 2008, the Federal Housing Finance Agency (FHFA) exercised its authority under a federal statute to appoint itself as conservator of Fannie Mae and Freddie Mac. FHFA, as conservator, negotiated agreements with the Department of the Treasury under which Treasury committed to investing billions of dollars in the enterprises in return for compensation consisting, in part, of fixed dividends. In 2012, after numerous quarters in which the enterprises' dividend obligations exceeded their total earnings - forcing the enterprises to draw more money from Treasury just to pay the dividends - FHFA and Treasury negotiated the Third Amendment to their agreements. The Third Amendment replaced the fixed dividend with a variable quarterly dividend equal to the enterprises' net worth minus a specified capital reserve.

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Date                 | Proceedings and Orders
Sep 25 2019 | Petition for a writ of certiorari filed. (Response due October 30, 2019)
Oct 30 2019 | Brief of respondents Mnuchin, Steven T., et al. in opposition filed.
Oct 30 2019 | Brief amicus curiae of Blackwells Capital LLC filed.
Nov 12 2019 | Reply of petitioners Patrick J. Collins, et al. filed.
Dec 11 2019 | DISTRIBUTED for Conference of 1/10/2020.
Jun 29 2020 | DISTRIBUTED for Conference of 7/1/2020.
Jul 08 2020 | DISTRIBUTED for Conference of 7/8/2020.
Jul 09 2020 | Petition GRANTED. The petition for a writ of certiorari in No. 19-563 is granted. The cases are consolidated, and a total of one hour is allotted for oral argument. VIDED.
Jul 09 2020 | Because the Court has consolidated these cases for briefing and oral argument, future filings and activity in the cases will now be reflected on the docket of No. 19-422. Subsequent filings in these cases must therefore be submitted through the electronic filing system in No. 19-422. Each document submitted in connection with one or more of these cases must include on its cover the case number and caption for each case in which the filing is intended to be submitted. Where a filing is submitted in fewer than all of the cases, the docket entry will reflect the case number(s) in which the filing is submitted; a document filed in all of the consolidated cases will be noted as “VIDED.”
Aug 17 2020 | Aaron Nielson, Esquire, of Provo, Utah, is invited to brief and argue, as amicus curiae, in support of the position that the structure of the Federal Housing Finance Agency does not violate the separation of powers. VIDED.
Aug 17 2020 | Joint appendix filed. VIDED.
Aug 17 2020 | Brief of Federal Parties filed. (in 19-563)
Aug 18 2020 | Mnuchin, et al., shall file an opening brief on the questions presented by the petition in No. 19-563, limited to 13,000 words, by Monday, August 17, 2020. Collins, et al., shall file a consolidated response in No. 19-563 and opening brief in No. 19-422, limited to 20,000 words, by Wednesday, September 16, 2020. That brief shall bear a light red cover. The Court-appointed amicus curiae shall file a brief, limited to 13,000 words, by Friday, October 16, 2020. That brief shall bear a dark green cover. Mnuchin, et al., shall file a consolidated reply and response brief, limited to 13,000 words, by Friday, October 23, 2020. Collins, et al., shall file a consolidated reply and response brief to brief of Court-appointed amicus curiae, limited to 6,000 words, by Monday, November 23, 2020. That brief shall bear a tan cover. The brief of any amicus curiae in support of Collins, et al., or in support of neither set of parties, shall be filed by Wednesday, September 23, 2020. Those briefs shall bear a light green cover. The brief of any amicus curiae in support of Mnuchin, et al., or in support of Court-appointed amicus curiae, shall be filed by Friday, October 30, 2020. Those briefs shall bear a dark green cover. VIDED.
Aug 19 2020 | Blanket Consent filed by Mnuchin, Steven T., et al. VIDED.
Sep 15 2020 | Blanket Consent filed by Petitioner, Patrick J. Collins, et al.
Sep 16 2020 | SET FOR ARGUMENT on Wednesday, December 9, 2020. VIDED.
Sep 16 2020 | Brief of Patrick J. Collins, et al. filed. VIDED.
Sep 22 2020 | Brief amicus curiae of Timothy Howard filed. VIDED.
Sep 23 2020 | Brief amicus curiae of New Civil Liberties Alliance filed.
Sep 23 2020 | Brief amicus curiae of Pacific Legal Foundation filed. VIDED.
Sep 23 2020 | Brief amici curiae of Institutional Investors in Fannie Mae and Freddie Mac filed. VIDED.
Sep 23 2020 | Brief amicus curiae of Thomas P. Vartanian filed. VIDED.
Sep 23 2020 | Brief amici curiae of Scholars filed. VIDED.
Sep 23 2020 | Brief amicus curiae of Americans for Prosperity Foundation filed. VIDED.
Sep 23 2020 | Brief amici curiae of Bryndon Fisher, et al. in support of neither party filed.(in 19-563)
Oct 08 2020 | Record requested from the U.S.C.A. 5th Circuit.
Oct 14 2020 | Record received from the U.S.C.A. 5th Circuit is electronic and located on PACER.
Oct 16 2020 | Brief of Court-appointed amicus cur...