Fannie Mae, Freddie Mac Executives to See Pay Cuts in 2012
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Top executives at Fannie Mae and Freddie Mac will receive reduced compensation as their regulator continues to cut pay and bonuses at the government-owned finance companies.
The 2012 pay program for the companies eliminates bonuses and establishes a target for chief executive officer pay at $500,000, the Federal Housing Finance Agency announced today. With the changes, total compensation for top executives has been reduced by nearly 75 percent since the companies were taken under government control in 2008.