news.cuna.org/articles/108497-inside-washington

Inside Washington

November 19, 2015

WASHINGTON (11/19/15)--The U.S. House approved a bill this week that would cap pay for the top executives of Freddie Mac and Fannie Mae.  The bill, already approved by the Senate, was sponsored by Sens. Elizabeth Warren (D-Mass.) and David Vitter (R-La.). The legislation has been sent to President Obama to be signed into law, an expected action which would make the bill the first housing finance reform measure to become law since 2008 when the government-sponsored entities (GSEs) entered into conservatorships  (American Banker Nov. 18). The bill's approval comes after Federal Housing Finance Agency Director Mel Watt, who regulates the GSEs, said he would raise compensation for Freddie's and Fannie's chief executives to nearly $4 million each, up from $600,000 ...