Oversight Committee Looks Into Possible GSE Conflict of Interest
April 7, 2017
Fannie Mae CEO Timothy Mayopoulos’ personal relationship with a Fifth Third Bancorp executive has resurfaced thanks to whistleblower complaints, prompting the House Committee on Oversight and Government Reform to ask questions. The relationship between Mayopoulos and Heather Russell, the chief legal officer for Fifth Third Bancorp, caused the bank to terminate its lawyer last summer because of conflict of interest concerns. Both Mayopoulos and Russell are separated from their spouses, and both revealed the relationship to their respective companies. However, the Federal Housing Finance Agency Office of the Inspector General issued a management alert last week about whistleblower complaints, raising...