A bill to suspend the current compensation packages for the chief executive officers of Fannie Mae and Freddie Mac, and for other purposes.
(Sec. 3) This bill requires the Director of the Federal Housing Finance Agency to suspend the compensation packages approved for 2015 for the chief executive officers of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (government sponsored enterprises or GSEs), and any affiliates, and in lieu of such packages establish the compensation and benefits for each such chief executive officer at the same level in effect for that officer as of January 1, 2015. Such compensation and benefits may not thereafter be increased.
This suspension shall not be construed to affect the prohibition of the STOCK Act against receipt of bonuses by the chief executive officer of each GSE during any period of conservatorship. It shall only apply to such a chief executive officer if the GSE is in conservatorship or receivership as a critically undercapitalized regulated entity pursuant to the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.
(Sec. 4) Any chief executive officer affected by this compensation package suspension shall not be considered a federal employee.
Placed on the Union Calendar, Calendar No. 261.
Referred to the House Committee on Financial Services.
Introduced in Senate
Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S6659; text as passed Senate: CR S6659)
Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S6659; text as passed Senate: CR S6659)
Message on Senate action sent to the House.
Received in the House.
Held at the desk.
Mr. Hensarling moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H8221-8223)
DEBATE - The House proceeded with forty minutes of debate on S. 2036.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H8221-8222)
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H8221-8222)
Enacted as Public Law 114-93
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line
Motion to reconsider laid on the table Agreed to without objection.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 114-93.
Became Public Law No: 114-93.