[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6864 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6864

    To prohibit golden parachute payments for former executives and 
                directors of Fannie Mae and Freddie Mac.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 10, 2008

Mr. King of Iowa (for himself, Mr. Walberg, Mr. Fortenberry, Mr. Akin, 
  Ms. Foxx, Mr. Garrett of New Jersey, and Mr. Bachus) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
    To prohibit golden parachute payments for former executives and 
                directors of Fannie Mae and Freddie Mac.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PROHIBITION ON GOLDEN PARACHUTES.

    Section 1318(e)(1) of the Federal Housing Enterprises Financial 
Safety and Soundness Act of 1992 (12 U.S.C. 4518(e)(1)), as added by 
section 1114 of the Federal Housing Finance Regulatory Reform Act of 
2008 (Public Law 110-289), is amended by inserting before the period at 
the end the following: ``, and shall prohibit any golden parachute 
payment on or after the date of enactment of this subsection with 
respect to any executive officer or member of the board of directors of 
a regulated entity''.
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