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Press Release Published: Dec 10, 2012

Issa Statement on FHFA IG Report Finding Need for Continued Improvement in Compensation Practices at Fannie/Freddie

WASHINGTON –Today, Oversight and Government Reform Committee Chairman Darrell Issa made the following statement in response to Federal Housing Finance Agency Office of Inspector General (FHFA-OIG) report finding that FHFA compensation system needs additional improvement:

“The report issued today by the FHFA Inspector General indicates clear progress after the Committee’s calls last year for reform of lavish executive compensation packages at taxpayer-funded Fannie Mae and Freddie Mac,” said Chairman Issa. “Although today’s news shows some meaningful improvements in executive compensation at this taxpayer funded entity, it is clear additional work remains.  I commend the FHFA Inspector General for continuing to examine compensation at Fannie and Freddie, and look forward to continue working with Acting Director DeMarco to ensure the implementation of necessary reforms to preserve and conserve taxpayer assets exposed by the Enterprises’ conservatorship.”

Related Documents
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December 10, 2012 Federal Housing Finance Agency Office of Inspector General Report Document
November 16, 2011 Report: "Government-Sponsored Moguls: Executive Compensation at Fannie Mae and Freddie Mac" Document
November 16, 2011 Hearing: "Pay for Performance: Should Fannie and Freddie Executives Be Receiving Millions In Bonuses?" Document
November 16, 2011 Issa Releases Report on Fannie Mae and Freddie Mac Executive Compensation Document
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