Biden to replace housing finance agency chief after top court ruling -White House

June 23, 2021 1:25 PM EDT

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WASHINGTON (Reuters) - U.S. President Joe Biden will replace the head of the Federal Housing Finance Agency with his own nominee, a White House official said on Wednesday after a U.S. Supreme Court ruling bolstered presidential powers over the agency.

"In light of the Supreme Court’s decision today, the president is moving forward today to replace the current director with an appointee who reflects the administration’s values," a White House official said.

(Reporting by Steve Holland; writing Susan Heavey; editing by Chris Reese)

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