Fannie Mae CEO Timothy Mayopoulos Busted Having Tawdry Affair With TransUnion Chief Legal Officer Heather Russell
He has received another rebuke from a government watchdog.
Mayopoulos did not disclose his romantic relationship with current TransUnion Chief Legal Officer Heather Russell.
Mayopoulos and Russell have been unable to quell their red-hot passion.
Russell was fired from Fifth-Third Bank in 2016 because of her previous relationship with the Fannie Mae CEO.
Did The Fannie Mae CEO Disclose His Red-Hot Affair or Not?
Lorraine Woellert and Katy O’Donnell for Politico report that the Fannie Mae CEO did disclose his relationship and even recused himself from any business decisions with TransUnion. However, the FHFA Inspector General said he did not go far enough.
FHFA Inspector-General Lara Wertheimer explained that Fannie Mae and Mayopoulos should have disclosed the CEO’s possible conflict of interest in the credit-scoring project.
The FHFA is currently choosing between credit scoring companies. VantageScore is one of those companies. The company is a partnership between Experian, TransUnion, and Equifax.
The agency claimed the decision to postpone the decision was made in order to focus on implementing the Economic Growth and Consumer Protection Act, which passed into law in May.
This happened three days before Wertheimer released her report.
The FHFA claims the credit score program had nothing to do with Mayopoulos. They claim the delay is due to the passage of the banking bill.
The Mayopoulos rebuke is the latest of in a string of bizarre behavior coming from the FHFA. Watt is currently under investigation for alleged sexual misconduct against an agency employee.
Wertheimer is also under investigation after allegedly disparaging employees and attempting to intimidate witnesses, among other accusations.