Fannie Mae and Freddie Mac hike pay for their CEOs

July 1, 2015 3:51 PM

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WASHINGTON, July 1 U.S. government-controlled mortgage finance companies Fannie Mae and Freddie Mac on Wednesday disclosed huge pay raises for their chief executive officers, part of a plan sanctioned by their regulator to attract and retain talent.

Fannie Mae CEO Timothy Mayopoulos and his counterpart at Freddie Mac, Donald Layton, will each now earn a targeted $4 million a year, up from previous annual salaries of $600,000.

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