FHFA Drops 'Reputational Harm' From Suspension Rules
Published Date: 7/13/2026
Proposed Rule
Summary
The Federal Housing Finance Agency (FHFA) wants to update its Suspended Counterparty Program by removing the phrase “reputational harm” to focus only on real, measurable risks. This change affects companies that do business with FHFA and aims to make supervision clearer and more straightforward. Comments on this proposal are open until August 12, 2026, so speak up if you have thoughts!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Suspensions Drop “Reputational Harm”
FHFA proposes to remove the phrase "reputational harm" from its Suspended Counterparty Program. If finalized, suspensions by FHFA of counterparties doing business with Fannie Mae, Freddie Mac, or any Federal Home Loan Bank would be based only on risks that cause significant financial harm or threaten safety and soundness (the rule continues to apply where misconduct was found within the past three years).
No Significant Impact on Small Entities
FHFA certifies the proposed amendment would not have a significant economic impact on a substantial number of small entities because the rule applies only to the regulated entities (Fannie Mae, Freddie Mac, and the Federal Home Loan Banks), which are not small entities for purposes of the Regulatory Flexibility Act. FHFA therefore did not prepare an initial regulatory flexibility analysis.
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Key Dates
Department and Agencies
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