Freddie Mac, the king of home mortgages, faced record breaking news yesterday - but it's not the type of record any company wants to break.  Freddie Mac agreed to pay $3.8 million in civil penalties to the Federal Election Commission (FEC) - the largest fine in history. 

The FEC accused Freddie Mac of breaking campaign finance rules by improperly encouraging its corporate executives to donate money to candidates, as well as to sponsor fund raisers for Congressman that served on key Congressional committees. 

Freddie Mac is a federally charted corporation whose primary mission is to promote home ownership.  Since it is federally chartered, laws and regulations are in place to prohibit Freddie Mac from this type of campaign fund-raising activity.  Most corporations can and do assist Congressmen and Congresswomen with their fund raising.

Freddie Mac did not concede any wrongdoing, but it also did not contest the FEC ruling.