S. 3458, A bill to prohibit golden parachute payments for former executives and directors of Fannie Mae and Freddie Mac

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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S. 3458 would prohibit golden parachute payments for former executives and directors of Fannie Mae and Freddie Mac.

Detailed Summary

Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Federal Housing Finance Regulatory Reform Act of 2008, to require the Director of the Federal Housing Finance Agency to prohibit any golden parachute payment on or after enactment of this Act with respect to any executive officer or director of: (1) the Federal National Mortgage Association (Fannie Mae) and any affiliate; (2) Federal Home Loan Mortgage Corporation (Freddie Mac) and any affiliate; and (3) any Federal Home Loan Bank.

Status of the Legislation

Latest Major Action: 9/9/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Points in Favor

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Points Against

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