Pursuits
Fannie and Freddie CEO Pay Cap at $600,000 Approved by House
- Compensation measure will head to White House to become law
- Raises initially approved by FHFA's Mel Watt in July
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The chief executive officers of mortgage giants Fannie Mae and Freddie Mac are set to receive a multi-million dollar pay cut.
The House passed a bill Monday night capping CEO pay at $600,000, the amount before plans were approved in July restoring compensation to more historic levels of about $4 million apiece. The measure is now set for White House approval to become law.