Bill Introduced to STOP Excessive GSE Bonuses

U.S. Sens. Mark Begich (D-AK) and John Thune (R-SD) have introduced SB 2054, the Stop the Outrageous Pay (STOP) at Fannie Mae and Freddie Mac Act, and act which prevents the distribution of undisbursed bonus money and moves all Fannie Mae and Freddie Mac employees onto a structured pay scale similar to that of other federal financial regulators. The Begich-Thune bill follows a series of events from November of 2011, when reports surfaced that the Federal Housing Finance Agency (FHFA) approved nearly $13 million in bonus pay for 10 executives at Fannie and Freddie.Click to continue