Executive salaries at Fannie, Freddie are cut

03/9/2012 | Reuters

The Federal Housing Finance Agency cut CEO pay for Fannie Mae and Freddie Mac from $900,000 to $500,000. "We tried very hard to be responsive to congressional concerns and to make appropriate adjustments," said FHFA acting Director Edward DeMarco. The two firms have been under fire for executive compensation, which previously could have reached $6 million with deferred salary and bonuses. The new plan also changes pay policies for about 70 other executives, eliminating bonuses.

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