People walk past a Capital One banking center in New York

Capital One lawyer’s pay revealed as nominee for agency inspector general

(Reuters) – The nominee for inspector general on the Federal Housing Finance Agency mentioned in an ethics filing launched on Monday that he earned greater than $515,000 final yr in wage and bonuses from Capital One Monetary Corp, the place he heads an investigations, compliance and ethics staff.

The nominee, Brian Tomney, a former U.S. Justice Division lawyer, would serve as the interior watchdog on the U.S. agency overseeing house mortgage giants Fannie Mae and Freddie Mac. The inspector general’s workplace conducts audits and evaluations, compliance experiences and threat assessments.

Necessary monetary and ethics disclosures for U.S. agency nominees provide a window into compensation inside main U.S. firms and legislation corporations. Disclosures file earnings from the prior calendar yr as much as the date of the submitting.

Tomney’s Oct. 6 nomination is pending earlier than the U.S. Senate banking, housing and concrete affairs committee. He didn’t instantly return a message on Monday searching for remark.

The Biden White Home mentioned Tomney, company investigations head at Capital One since 2017, “leads a team of researchers and investigators that conducts independent investigations into allegations of internal fraud and unethical business practices.”

Capital One will distribute deferred compensation plan funds to Tomney inside three months of his departure from the McLean, Virginia-based firm. His ethics disclosures mentioned he is not going to be eligible for a 2021 bonus until he’s nonetheless employed at Capital One in February when the board of administrators meets to approve 2021 compensation.

Tomney mentioned in an ethics settlement submitted as a part of his nomination that he is not going to take part “personally and substantially” in Capital One-related issues until he receives a waiver or qualifies for a separate regulatory exemption.

Tomney held a wide range of roles on the U.S. Justice Division from 2006 to 2017, together with service as affiliate deputy legal professional general.

President Joe Biden in July named Phyllis Fong the housing agency’s performing inspector general.

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