Search
 

Fannie Mae Avoids Charges in Probe

WASHINGTON, DC-The agency hopes to complete its financial restatements of its 2004 earnings by the end of this year.

By Erika Morphy | Updated on August 24, 2006

(To read more on the debt and equity markets, click here.)

WASHINGTON, DC-Fannie Mae says it’s been advised by the US Attorney’s Office for the District of Columbia that it is discontinuing its investigation into its accounting policies and practices and does not plan to file charges. Fannie Mae was initially notified in October 2004 of the US Attorney’s investigation of the company.

With this step it appears as though the fallout from Fannie Mae’s accounting irregularities are coming to an end–although there are some members of Congress calling for new laws to further reform the GSAs. Fannie Mae has reached settlements with the Securities and Exchange Commission and the Office of Federal Housing Enterprise Oversight, which included a $400-million fine.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.