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Biden replaces Trump-appointed regulator overseeing mortgage giants after Supreme Court ruling

The White House on Wednesday replaced the regulator who oversees mortgage giants Fannie Mae and Freddie Mac, hours after a Supreme Court ruling enabled President Biden to oust the Trump appointee.

Why it matters: The removal of libertarian economist Mark Calabria as Federal Housing Finance Agency (FHFA) director "gives Biden more control" over the fate of Freddie and Fannie, "which play an outsize role in the housing market and are central to many homeowners' ability to afford homes," per the New York Times.


What's happening: The FHFA said in a statement Wednesday night that Sandra Thompson, who previously served as the Division of Housing Mission and Goals' deputy director, had been appointed acting director of the agency.

  • She previously worked at the Federal Deposit Insurance before joining the FHFA, overseeing its enforcement program for risk management and consumer protection during the financial crisis.

What she's saying: Thompson pledged in the statement to address areas of housing more in line with the Biden administration's goals.

  • "There is a widespread lack of affordable housing and access to credit, especially in communities of color," she said.
  • "It is FHFA's duty through our regulated entities to ensure that all Americans have equal access to safe, decent, and affordable housing."

Simone Biles will compete in her final Olympic event

Simone Biles will compete in the Olympic individual balance beam final, her last event of the Tokyo Games, USA Gymnastics announced Monday.

What's happening: "We are so excited to confirm that you will see two U.S. athletes in the balance beam final tomorrow — Suni Lee AND Simone Biles!! Can’t wait to watch you both!" USA Gymnastics tweeted.

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In photos: Tokyo Olympics day 10 highlights

Day 10 of the Tokyo Olympic Games saw Puerto Rico bag its first-ever track gold medal when Jasmine Camacho-Quinn beat American world record holder Kendra Harrison to win the women’s 100-meter hurdles Monday.

The big picture: There was better news for Team USA in the basketball, where the women's national team beat France 93-82 — meaning the Americans are entering the medal round undefeated as they go for yet another gold, Axios' Ina Fried reports from Tokyo. France still advanced to the quarterfinals as well.

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Belarus sprinter who sought refuge in Tokyo "safe" with Japanese authorities, IOC says

Belarus' Olympian Krystsina Tsimanouskaya, who's refusing orders to return home, is in the care of Japanese authorities and the UN refugee agency is now involved in her case, an International Olympic Committee official told reporters Monday.

Driving the news: The sprinter said she wouldn't obey orders and board a flight home after being taken to Tokyo's s Haneda airport by team officials Sunday following her criticism of Belarusian coaches, per Reuters. She spent the night in an airport hotel.

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Olympic sprint champ Jacobs says reconnecting with U.S. father "gave me the desire to win"

Italy's surprise 100-meters Olympic gold medalist Lamont Marcell Jacobs opened up Sunday about how reconnecting with his American father over the past year has helped spur him on.

What he's saying: The Texas-born sprinter told reporters after setting a European record of 9.80 seconds to win gold in Sunday's event that getting back in touch with his father "gave me the desire, the speed, that something more that helped me being here and win the Olympics."

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Bipartisan Senate group releases $1 trillion infrastructure bill

A bipartisan group of senators released full legislative text for their $1 trillion "hard" infrastructure bill late Sunday night, setting it up for debate on the floor this week.

Why it matters: Senate Majority Leader Chuck Schumer kept senators in town for a rare legislative weekend in order to formally begin debate on the 2,702-page bill. Now the Senate can begin a potentially days-long amendment process before a final vote this week.

Read the bill.

This is a breaking news story. Check back for updates.

American Raven Saunders protests oppression with "X" sign on Olympic podium

U.S. shot-putter Raven Saunders told AP Sunday she placed her hands above her head in an "X" formation while on the Olympic podium after winning a silver medal to stand up for "oppressed" people.

Why it matters: The International Olympic Committee has banned protests during the Tokyo Games, but Saunders, who is black and openly gay, said she wanted to take a stand.

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High-ranking Democratic lawmaker in New Mexico House resigns amid allegations of fraud

A high-ranking New Mexico Democratic state lawmaker has resigned amid a federal investigation into possible fraud, racketeering, illegal kickbacks and money laundering,

Driving the news: Sheryl Williams Stapleton stepped down Friday as New Mexico's House majority leader, and from her seat, after state and federal authorities served subpoenas on an Albuquerque school district where Stapleton is employed.

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House poses obstacle to passage of infrastructure bill

A 2,700-page bipartisan infrastructure bill was headed to Senate desks Sunday with promises it will pass the chamber by the end of the week. A final version was promised after additional edits.

Why it matters: While that's progress for the president’s most prominent 2021 legislative goal, the House is shaping up as a potential obstacle before money starts flowing to build new roads, bridges and expand broadband access.

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