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Wednesday, December 14, 2011

Housing regulator sues Chicago

WASHINGTON: The Federal Housing Finance Agency said it was suing the city of Chicago to prevent it from enforcing a recently amended ordinance dealing with vacant properties.

FHFA said it was acting on its own behalf and as the conservator for Fannie Mae and Freddie Mac and said it had taken the action reluctantly after trying unsuccessfully to work the issue out with the city.

By Reuters

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