Quote, we will be forced to reduce staffing by approximately 70 to 80% in FY 2027, which will result in the discontinuance of essentially all criminal investigations conducted by our Office of Investigations. Funding at the $20 million level will eliminate our capacity to effectively conduct criminal investigation of mortgage, bank and other fraud schemes involving the entities FHFA regulates. And another, we will be forced to cease supporting ongoing criminal investigations as soon as feasible after consultation with the Department of Justice and the more than 30 U.S. attorney Attorney's Offices in which we have ongoing investigations. (11:42–11:59)
STATEMENT
Asserts that funding cuts will eliminate the FHFA's capacity to conduct investigations into fraud schemes.
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