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FHFA OIG addresses executive compensation controversy

The Federal Housing Finance Agency (FHFA) Office of the Inspector General on Wednesday said the agency has not adequately defined the rules and scope of its executive compensation practices. The OIG concluded that the agency should update its rules and procedures and determine if it has enough staff to vet executive compensation decisions.

The evaluation report and succeeding memo are in response to a controversy stemming from former FHFA Director Mark Calabria’s intention to pay a Fannie Mae executive $250,000 under the guise of a retention award, the watchdog said in a report published in January. Federal details ⇒

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