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A federal judge’s ruling against UBS likely protected the Federal Housing Finance Agency’s pursuit of securities claims on behalf of Fannie Mae and Freddie Mac, according to Reuters.
Alison Frankel writes the judge denied a UBS motion to dismiss, rejecting a claim that the FHFA’s claims were time-restricted under the statute of limitations and the conservator’s congressional authority.
A decision against the FHFA, Frankel writes, could have halted other mortgage-backed securities claims from the conservator.
Read more at Reuters.
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