S. 2054: STOP Act

112th Congress · introduced 2012-02-01 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2012-02-01 · official record
Who proposed it: Sen. Begich, Mark [D-AK] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

STOP Act

Plain summary

Stop the Outrageous Pay at Fannie and Freddie Act or STOP Act - Requires the Director of the Federal Housing Finance Agency (FHFA) to: (1) suspend the compensation packages approved for 2011 for the executive officers of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs); and (2) establish a compensation system for the executive officers and all other employees of each GSE in accordance with the compensation and benefit schedules established and adjusted pursuant to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). Sets the maximum rate of compensation and benefits that an executive officer or employee of a GSE may receive at the rate of compensation and benefits of the highest compensated executive or employee of an agency enumerated in FIRREA (Federal Deposit Insurance Corporation [FDIC], the Comptroller of the Currency, the National Credit Union Administration [NCUA] Board, the FHFA, the Office of Financial Research, the Consumer Financial Protection Bureau [CFPB], the Farm Credit Administration, or the Commodity Futures Trading Commission [CFTC]). Requires each executive officer performing services for a GSE on the date of enactment of this Act whose compensation package is suspended to return to the Secretary of the Treasury any compensation earned in 2011 or any subsequent calendar year, but not yet disbursed as of the enactment of this Act, that exceeded the rate of compensation and benefits of the highest compensated executive or employee of an agency enumerated in FIRREA. Requires the Secretary to transfer returned amounts to a specified account in the Treasury to reduce the public debt. States that any executive officer or employee whose compensation is affected by this Act shall not be considered a federal employee. Requires the Director to report annually to specified congressional committees, and to make publicly available, the rate of compensation and benefits of all GES executives and employees, without disclosing their names or other personal information.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

STOP Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Begich, Mark [D-AK] · 22 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

John Thune (R-SD), Chuck Grassley (R-IA), John Hoeven (R-ND), Ron Johnson (R-WI), James E. Risch (R-ID), Rand Paul (R-KY), Jeanne Shaheen (D-NH), Sheldon Whitehouse (D-RI)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Sponsor and cosponsor: The sponsor is the member who introduces a bill and leads it. Cosponsors are other members who sign on to show support.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s2054.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s2054 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112