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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Financial Services
    IntroducedJanuary 20th, 2010

Bill Details

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Title

Protecting Taxpayers from Excessive Compensation Act of 2010

Official Title

To prohibit compensation for any officer or employee of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, during any conservatorship or receivership of such enterprise, in an amount exceeding the compensation provided to the Chairman of the Joint Chiefs of Staff of the Armed Forces.

Summary

Protecting Taxpayers from Excessive Compensation Act of 2010 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to direct the Federal Housing Finance Agency, in its capacity as conservator or receiver of a government-sponsored enterprise (Federal National Mortgage Association [Fannie Mae] or the Federal Home Loan Mortgage Corporation [Freddie Mac]), to prohibit the provision of compensation to any employee, officer, or executive officer of such enterprise, for any period during such conservatorship or receivership, in an amount exceeding the rate of basic pay at such time for the Chairman of the Joint Chiefs of Staff of the Armed Forces.

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