Congress Passes GSE Bonus-Killing STOCK Act, Bill Also Requires Lawmaker, White House Mortgage Disclosures
March 29, 2012
Nearly two months after the House and Senate overwhelmingly voted to curtail bonus payments to Fannie Mae and Freddie Mac executives, congressional lawmakers last week approved a final bill to send to the presidents desk for signature. Among the amendments included in the Stop Trading on Congressional Knowledge Act of 2012 which would bar members of Congress and staffers from using non-public, inside information for personal benefit are prohibitions on bonus payments to top executives of the two government-sponsored enterprises while they remain in conservatorship. The STOCK Act also...