110 HR 6864 IH: To prohibit golden parachute payments for former U.S. House of Representatives 2008-09-10 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 2d Session H. R. 6864 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.

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.