[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 3458 Introduced in Senate (IS)]







110th CONGRESS
  2d Session
                                S. 3458

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 9, 2008

   Mr. Bunning (for himself, Mrs. Dole, and Mr. Enzi) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 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 director of a regulated entity''.
                                 <all>