As part of the settlement, Freddie Mac agreed to separate the functions of chairman of the board and chief executive, consider setting term limits for board members, and submit a plan to improve corporate governance. The accounting scandal has had a cathartic effect on Freddie Mac, which has a deep relationship with credit unions by not only buying mortgages from them, but providing an investment outlet for surplus credit union cash. Mortgage-backed securities and corporate debt issued by Freddie and Fannie Mae make up some of the most attractive investments in CU portfolios these days. The company's three top execs, including long-time CEO Leland Brendsel, were forced out in June, and Gregory Parseghian, who was named to replace Brendsel, was subsequently forced out by OFHEO, which said Parseghian participated in the same scheme. More importantly, the scandal has had a catalyzing impact on congressional critics of the two secondary mortgage market giants.