SEC Notifies Fannie Mae Ex-CEO Mudd He May Face Civil Claims
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Daniel Mudd, the former head of Fannie Mae, became the latest target in a probe by U.S. regulators of whether financial institutions were honest with investors about their exposure to subprime loans.
Mudd, now chief executive officer of Fortress Investment Group LLC, confirmed in a statement to Bloomberg News that the Securities and Exchange Commission notified him yesterday the agency intends to pursue civil claims against him.