Summary
NEW YORK (AP) Mortgage giant Fannie Mae is now the target of a formal inquiry by the Securities and Exchange Commission over its accounting practices, the company said in a regulatory filing Tuesday.
The inquiry, which was previously an informal investigation, means that federal regulators may now subpoena documents from the company as well as require the testimony of company employees and executives. In its filing with the SEC, the company said it would cooperate fully with the probe. Formal investigations require a vote of approval from the SEC's commissioners.See the full content of this document
Extract
Fannie Mae Announces Formal Inquiry by Sec
Fannie Mae, which last week was ordered by t...
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