FHFA Issues Final Rule to Clip GSE Golden Parachute Payments
February 7, 2014
The Federal Housing Finance Agency last week issued regulations that clamp down on “golden parachute” severance payments to departing GSE executives. Published in the Jan. 28 Federal Register, the FHFA’s final rule applies to Fannie Mae, Freddie Mac, the Federal Home Loan Banks and the Office of Finance, as well as any “entity-affiliated parties,” including independent contractors such as attorneys, accountants and appraisers.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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