Benzinga's Political Roundup (AAPL, REE, MCP, FNM)

China is going to cut rare earth exports by 11% over last year's production. This is sending shares of Molycorp (NYSE: MCP) and Rare Elements Resources (NYSE: REE).

Apple (NASDAQ: AAPL) is being sued over allowing applications run on its products taking customers information without their consent.

China announced it will begin probing anti-dumping of the U.S. chicken feed.

Ally Financial is paying Fannie Mae (NYSE: FNM) $462 million regarding mortgage put backs.

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