Victory For Taxpayers on Overturning Salary Hikes for Fannie and Freddie

NTU is encouraged by the movement in the overwhelming bipartisan support in overturning the compensation of Fannie and Freddie’s CEO’s from $4 million to be to be capped at $600,000. We are thankful to the leadership of Rep. Ed Royce (R-CA) on the House version of the bill as well as Sen. David Vitter (R-LA) and Sen. Elizabeth Warren (D-MA).

Clark Packard who serves as NTU’s Policy and Government Affairs Manager stated,

"I was shocked when I first learned of the Federal Housing Finance Agency's (FHFA) decision to approve $4 million salaries for the CEOs of Fannie and Freddie. I knew taxpayers deserved better. By alerting NTU's grassroots members to FHFA's decision, we were able to build a ground swell of support to urge Congress to overturn it. Last night's unanimous vote in the Senate to overturn FHFA's ill-conceived salary hikes for Fannie and Freddie executives was a victory for taxpayers."

Packard went on to say, "The House Financial Services Committee passed an identical version of the bill by an overwhelmingly bipartisan majority. NTU urges the House to swiftly adopt the Senate's version of the bill."

We look forward to the bill’s passage in the House and arriving on the desk of the President for his signature soon. We are thankful to our grassroots members who have been instrumental in the progress being made on this decision.