House panel moves to block Fannie, Freddie pay (Reuters)

WASHINGTON (Reuters) ? The House of Representatives Financial Services Committee on Tuesday approved a bill that would crack down on the pay packages for executives at mortgage giants Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB).

The bill would suspend 2011 compensation packages for executives at the two companies, which were taken over by the government in 2008, and instead have them paid based on a government pay scale.

(Reporting by Dave Clarke; Editing by Chizu Nomiyama)

Source: http://us.rd.yahoo.com/dailynews/rss/personalfinance/*http%3A//news.yahoo.com/s/nm/20111115/bs_nm/us_financial_regulation_fanniehouse

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