Warren, Tillis Looking to Enforce GSE Salary Caps

April 15, 2019

American Banker, Apr. 12, 2019--Neil Haggerty (subscription)
Sens. Elizabeth Warren, D-Mass., and Thom Tillis, R-N.C., have introduced the Respect the Caps Act, which would explicitly bar Fannie and Freddie from transferring or delegating any duty or responsibility to the chief executive officer to any other position. It would also allow for the Federal Housing Finance Agency director's removal if it approves compensation greater than the cap of $600,000 a year, which was signed into law in 2015.

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